ICE Canadian canola futures rose on Monday, trading in a wide range before settling modestly higher, as traders adjusted positions ahead of Tuesday's Statistics Canada crop report. Trade expected Statscan to raise canola area estimate to 19.7 million acres from 19.1 million. Report will be released at 7:30 am CDT (1230 GMT). July canola gained 70 cents to $606.40 per tonne on volume of 4,786 contracts. Traded in a wide range of over $14.
New-crop November canola rose $1.80 at $557.70 per tonne on volume of 10,795 contracts. July-November spread narrowed to a July premium of $48.70, trading 3,706 times. Chicago July soybeans gained 18-3/4 US cents to US $15.12 per bushel on firm cash markets and technical buying. MATIF Paris August rapeseed shed 1.4 percent. Malaysian September palm oil also fell 1.4 percent. Canadian dollar was trading at $1.0478 versus the US dollar or 95.44 US cents at 1:21 pm CDT (1821 GMT), down from Friday's close at $1.0456 versus the US dollar, or 95.64 US cents.