ICE Canadian canola futures rose to a one-month high on Wednesday with talk of recent export sales to China and a lack of farmer selling of the new crop, traders said. Traders said the sales talk was supportive, but the sales were unconfirmed. Strength in soybean futures added support. November canola rose $5.40 to $622.60 per tonne on volume of 5,494 contracts. Touched $624.90, the highest price since September 21.
January canola gained $5.60 to $622.10 on volume of 12,192 contracts. November-January spread narrowed to a November premium of 50 cents, trading 5,166 times.