Canola futures tracked higher with Chicago soybeans on Thursday.
Soybeans climbed, hovering near 15-month highs, as US officials outlined new Chinese commitments to purchase American supplies, following a meeting between US President Donald Trump and Chinese leader Xi Jinping at the APEC Summit in South Korea.
But while soybeans were higher, Chicago soyoil was lower on the day, as was European rapeseed. Palm oil was higher.
Weakness in the Canadian dollar, after the Bank of Canada trimmed its key policy rate on Wednesday, added to the upside in canola.
A Statistics Canada crush report today pegged the national canola crush for September at 1.007 million tonnes, up 16% from the August crush of 867,944 and about 8% higher than the same month last year.
January canola gained $7.20 to $648.50, and March was up $7.60 at $659.80.
