ICE Canadian canola futures climbed more than 1 percent on Monday in reaction to the jump in corn and to tight canola supplies ahead of sowing season, traders said. Corn set the positive tone for grains and oilseeds with a 6 percent rise prompted by US planting delays. Canola overcame earlier weakness that was due to warmer weather in Western Canada that reduced concerns about floods during planting. May canola gained $7.90, or 1.3 percent, to $642 per tonne on volume of 4,944 contracts. Most-active July rose $6.70 to $623.20 on volume of 10,469 contracts.
Copyright Reuters, 2013