Winnipeg canola futures rose Wednesday on stronger crude oil prices and higher soybean prices.
However, the gains in canola were not enough to break out of the narrow trading range established since the beginning of the month.
Soybeans climbed on news of additional sales to China.
January canola traded as high as $416.40 but settled at $412.50 per tonne, up $1 from Tuesday on a light volume of 3,649 contracts.
March rose $1.20 cents to close at $420 per tonne on a volume of 8,033 contracts. May rose $1.20 to $427.20 on 1,881 trades.
The Bank of Canada at noon Wednesday said the Canadian dollar was worth 94.52 cents US, up from 94.16 cents on Monday. The U.S. dollar was worth $1.058 Cdn.
For a second day, Winnipeg barley contracts were untraded with January at $159 per tonne and March at $161.
Chicago January soybeans rose 4.5 cents to $10.595 US per bushel.
Oilseeds were also supported by stronger palm oil prices, which were buoyed by rising crude oil.
Crude rose to $72.66 US per barrel on a weekly report that showed U.S. crude oil stocks fell by 3.7 million barrels, 1.9 million more than expected.
