ICE Canadian canola futures rose on Monday, boosted by catch-up buying after last week's holidays and higher soybean oil. The market was closed last Thursday and Friday for Canadian holidays. On Friday, Chicago March soybeans, which often set canola's direction, gained nearly 2 percent.
Most-active March canola climbed $3.80 to $439.60 per tonne. Chicago Board of Trade January soybeans shed 5-3/4 US cents to US $10.41-3/4 per bushel. January soyoil rose 1 percent. Malaysian February palm oil added 1.9 percent. NYSE Liffe Paris February rapeseed gained 0.5 percent. The Canadian dollar CAD= was trading at $1.1629, or 85.99 US cents at 1:04 pm CST (1904 GMT), weaker than last Wednesday's official Bank of Canada close of C$1.1623, or 86.04 US cents.
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