ICE Canadian canola futures edged up on Wednesday. It was a pretty uneventful day on the canola market, a trader said, adding traders are waiting for some market direction from a US Department of Agriculture (USDA) report expected Thursday. May canola gained $1.80 to $462.30 per tonne.

May-July canola spread traded 3,676 times. Chicago corn futures slumped on Wednesday as the US government reported the US ethanol industry saw a near-decade low in weekly production amid massive stocks.