ICE Canadian canola futures rose on Wednesday for a third straight session, supported by tight supplies and strength in soybeans. Trade concerns about supplies center on unharvested crop from last year in Western Canada, some of which may not be salvaged, a trader said. Most-active July canola gained $1.80 to $522.60 per tonne.

New-crop November canola rose less, by 70 cents to $505.50, as favorable, warm planting weather was forecast. July-November canola spread traded 3,290 times. ICE reported no deliveries of the May contract, which expires May 12.

Copyright Reuters, 2017