ICE Canadian canola futures rose on Monday to a nearly four-month high, lifted by strength in crude oil and soyabeans after Greece's parliament approved an austerity bill to secure a second bailout. March hit $539.80, the highest price for a nearby contract on a continuous chart since October 17. Stronger Canadian dollar capped canola's gains.
Total market open interest on Thursday reached about 184,300 contracts, the highest in 4-1/2 months, before slipping modestly on Friday. March canola gained $3.50 at $538.80 a tonne on volume of 6,875 contracts. May rose $4.60 at $542.50 on volume of 6,558 contracts. March-May spread traded 3,174 times, settling at a May premium of $3.70. Chicago March soyabeans climbed 23 US cents to US $12.52 per bushel. March soyaoil gained 0.52 cent to 53.05 US cents per lb.