Canola futures continued to rebound on Thursday, touching the highest since early February.
Canola drew some support today from gains in the Chicago soy complex, strength in palm oil, and ideas of improving export demand for Canadian supplies. The Statistics Canada acreage report to be released Monday kept some caution in the market, with the average pre-report trade estimate putting planted area below last year’s 22.1 million acres.
May gained $6.50 to $605.40, July added $6.40 to $613.30, and November was up $5.40 to $619.30.
