Canola futures closed little changed on Thursday.
Losses in Chicago soybeans and soybean oil were bearish for the canola market but gains in European rapeseed futures and palm oil offered support. Declines in the Canadian dollar to six-month lows were also supportive.
Today’s Saskatchewan crop report showed the overall harvest in the province at 93% complete as of Monday, with nearly 90% of the canola in the bin. The report also estimated this year’s average Saskatchewan canola yield at 42 bu/acre, above the September Statistics Canada projection of 40.6 bu.
November canola eased a dime to $616.90, and January added 40 cents to $631.40.
