Intercontinental Exchange canola futures finished sharply higher Monday, with November canola gaining $12.90 to $835.20 per tonne and January rising $13.80 to $846.80. Strength across Chicago soybeans, soybean oil and European rapeseed spilled into canola, while the weaker Canadian dollar provided additional support. Malaysian palm oil and crude oil moved lower, limiting some of the upside.
Prairie harvest delays also remain supportive, particularly in Alberta, where progress has lagged normal levels. Warmer and drier weather over the next several days should help fieldwork advance, which could bring fresh commercial pressure back into the market. For now, stronger oilseed values, technical support above major moving averages and a softer loonie are keeping canola well bid.
