ICE canola futures rise as heat stresses European rapeseed crop.

ICE canola futures ended higher on Wednesday on concerns that a severe heat wave would reduce European rapeseed production this season, potentially stoking demand for Canadian exports, traders said.

Temperatures across northern Europe hit record highs on Wednesday in the second heat wave this month. The crop-stressing conditions are expected to last until Friday. Most-active November canola ended $2.70 higher at $450.20 per tonne. The contract touched a three-week high during the session. Hedge selling clipped gains...