WINNIPEG, (Manitoba): ICE canola futures rose for a fourth straight session on Friday, boosted by strong crude and soybean oil prices. Canola is underpinned by frigid weather in Western Canada that has slowed farmer sales to commercial dealers.
Most-active March canola added $3.50 to settle at $864.70 per tonne in thin trading volume. March-May canola spread, the most active inter-month spread, traded 1,635 times.
US soybean futures rose after US Department of Agriculture reported private exporters sold 124,000 tonnes of soybeans to unknown destinations for delivery in the 2022/23 marketing year. Euronext February rapeseed futures dipped.