Canadian canola futures rise

May 17, 2013

Canadian canola
Canadian canola

ICE Canadian canola futures rose for the seventh straight day on Wednesday on tight country supplies, a weak dollar and expectations that planting could be delayed by rains in the coming days, traders said. Prices for the July contract have risen 4.9 percent to a three-week high during the seven-day rally, which is the longest for the front-month contract since April 2012.

July canola rose $1.80 to $628.00 per tonne on volume of 9,169 contracts. November rose $1.80 to $544.20 per tonne on volume of 4,912 contracts. July-November was unchanged at a July premium of $83.80, trading 2,342 times. Chicago Board of Trade July soybeans fell 2 US cents to US $14.12-3/4 per bushel. MATIF Paris August rapeseed rose 0.35 percent. Reuters

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