Canola futures posted their third straight day of gains to end the week.
The size of this year’s crop remains largely uncertain, even after yesterday Statistics Canada crop production report lowered the crop from August to 17.4 million tonnes, down about 7.1% from a year earlier. However, actual harvest results suggest further upside.
Today’s Alberta crop report pegged the canola harvest in that province at nearly 20% complete as of Tuesday.
November canola was up $5.10 at $763.90, January added $5.30 to $772.50, and March gained $5.40 to $778.40.
