WINNIPEG, (Manitoba): ICE canola futures finished higher on Thursday, reversing losses from earlier in the session, helped by a late flurry of buying.

The late support was likely due to exporters pricing old sales, a trader said, adding that increased farmer selling has otherwise weighed on canola.

Oilseeds are underpinned by concerns about weather in dry parts of Argentina limiting soybean production, a second trader said.

March canola gained $1.60 to $1,024.10 per tonne.

March-May canola spread traded 3,269 times.

US soybean futures and soyoil fell and Euronext May rapeseed futures also dropped.