WINNIPEG: ICE Canadian canola futures climbed to a one-month high on Tuesday on spillover support from a firmer Chicago soyabean market, although a stronger Canadian dollar limited gains.

May canola rose $1.70 to settle at $526.50 per tonne. July canola gained $1.60 to $532.00 while November added $1.00 to $519.50 a tonne.

Recent gains have blunted export interest, a trader said.

Chicago Board of Trade soyabean futures climbed on Tuesday in a modest rebound from the prior session’s declines.

The market remains underpinned by a US government forecast for fewer soyabean acres this year compared with a year ago.

The Canadian dollar strengthened to a one-week high against the greenback as oil and stock prices steadied and investors weighed potential progress toward a NAFTA trade deal.

NYSE MATIF May rapeseed advanced while Malaysian May crude palm oil fell.—Reuters