ICE Canadian canola futures rose on Tuesday as a weaker Canadian dollar enticed buying from crushers and exporters, lifting the nearby contract to a monthly gain of 0.9 percent, traders said. Total volume of 21,773 largest in more than one month, due to catch-up afteer recent thin trading-trader Lack of farmer selling seen easing commercial hedge pressure.
January ended up $4.50 or 0.9 percent at $536.40, volume 12,971. Front month has consolidated in tight range for more than a week. March up $4.40 at $543.10, volume 7,751. January/March spread traded 6,581 times, settling at $6.70 premium March. Chicago Board of Trade January soybeans settled up 8 US cents at US $12.43 per bushel. The Canadian dollar was trading at $1.0243 to the US dollar or 97.63 US cents as of 1:09 pm CST (1909 GMT), down from $1.0186 to the US dollar, or 98.17 US cents, at Monday's close.