WINNIPEG, (Manitoba): ICE canola futures rose for a second straight session on Wednesday, but lagged the advances in soyoil and rapeseed.

Nearby canola contracts are overpriced compared with rival oilseeds, a broker said. Most-active March canola gained $1.60 to $1,023 per tonne. March-May canola spread traded 2,053 times. US soybean futures traded both sides of even, after consolidating overnight near a five-month high, supported by extreme weather in South America that could result in yield losses.