WINNIPEG, Manitoba: ICE canola futures rose on Thursday, lifted by Canadian farmers holding back supplies and strength in palm oil.

Floods in British Columbia that have cut off rail access to the Port of Vancouver are likely to weaken prices going forward, a broker said, adding that commercial cash prices to farmers were lower on the day. January canola gained $10.40 to $1,014.10 per tonne.

January-March canola spread traded 3,956 times, as speculators move their positions forward. US soybean futures dipped on profit-taking.