ICE Close: Canola from Earlier Weakness to Close Higher 

Canola erased earlier declines to end higher on Thursday. 

Increasing dryness in parts of Western Canada offered some support to canola, although seeding is progressing well. Today’s Saskatchewan crop report showed overall seeding in that province at 88% complete as of Monday, ahead of last year and the five-year average. Canola planting in the province was reported at 83% complete. 

Canola gained despite weakness in crude oil, as well as Chicago soybean oil and European rapeseed. However, palm oil did manage a higher close. 

July canola was up $3.90 at $719.80, and November gained $5.50 to $691.80. 

ICE Close: Canola from Earlier Weakness to Close Higher 

Canola erased earlier declines to end higher on Thursday. 

Increasing dryness in parts of Western Canada offered some support to canola, although seeding is progressing well. Today’s Saskatchewan crop report showed overall seeding in that province at 88% complete as of Monday, ahead of last year and the five-year average. Canola planting in the province was reported at 83% complete. 

Canola gained despite weakness in crude oil, as well as Chicago soybean oil and European rapeseed. However, palm oil did manage a higher close. 

July canola was up $3.90 at $719.80, and November gained $5.50 to $691.80.