Canola futures closed higher for the second straight day on Wednesday, adding to the gains from the previous day.
The canola market was closed on Monday to mark Remembrance Day when the Chicago soy complex shot higher on Brazilian weather problems. Soybeans and soymeal were lower today, although soyoil managed gains.
After posting heavy losses in September and October, the canola market is recovering alongside other vegetable oils, including palm and soy.
January canola was up $5.60 at $719.50, March was $4.80 higher at $725.10, and May gained $5.10 to $728.50.
