Canola futures ended with gains on Wednesday, following other vegetable oils higher.
Chicago soybean oil, European rapeseed, and palm oil all finished higher on the day, helping to lift canola. Reports today attributed some of the strength in the soyoil market to yesterday’s announcement of a US-Japan trade deal, which contains lower-than-expected tariffs and a commitment from Japan to buy US products.
Crude oil was stronger on the day as well, while the Canadian dollar was little changed.
November and January each gained $8.10 to close at $698.10, and $708.30, respectively.
