ICE Close: Canola Continues Higher 



  

Canola futures closed stronger on Thursday, seeing a continuation of Wednesday’s rally amid ideas the oilseed remains underpriced compared to its product values. 

  

Gains in Chicago soyoil and continued weakness in the Canadian dollar contributed to the strength in canola, as crush margins remain historically wide. European rapeseed futures were also stronger, although Malaysian palm oil and Chicago soybeans were slightly softer. 

  

The advancing Prairie harvest remained a bearish influence in the background. 


November climbed $17.40 to $819.60, January was up $17.20 at $829.10, and March added $17.10 to $836.40. 


Source: DePutter Publishing Ltd.

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