ICE Canadian canola futures rose on Friday for a third straight session, boosted by strength in soyabeans that was fuelled by renewed optimism about US-China trade talks. While trade optimism about the United States and China spilled over to canola markets, Canadian traders say they are concerned that a diplomatic dispute between Canada and China may affect canola sales.
The nearby March canola contract hit resistance at an intra-day high of $486, around its 50-day moving average. March canola gained $1 to $484.20 per tonne. March-May canola spread traded 4,212 times.