ICE Close: Canola Closes with Modest Gains

Canola futures ended with modest gains on Friday, following the release of a number of USDA reports earlier in the day.

The U.S. grain stocks report, updated supply-demand estimates and the winter wheat seedings report contained no major bullish or bearish surprises for the American markets, but corn, wheat and soybean futures all moved a bit higher on the day, spilling over to support canola.

On the other side, strength in the Canadian dollar helped to limit the gains in canola.

March canola gained 80 cents to $484, May was up 50 cents at $492.70 and July climbed 70 cents to $497.70.

Source: DePutter Publishing Ltd.

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