Canola futures remained pointed higher on Thursday after hitting three-year highs a day earlier.
Continued strength in crude oil remained a primary supportive influence for the Canadian oilseed. U.S. oil futures rallied more than 6% and Brent crude futures climbed above US$100 per barrel for the first time since May after military strikes spilled into the Red Sea.
Chicago soybeans and soyoil were both higher as well, with gains in palm oil and European rapeseed further underpinning canola.
Today's Saskatchewan crop report said warmer and drier weather has helped accelerate crop development, although conditions across the southern Prairies have turned hot and too dry.
November climbed $13.30 to $835.90, and January was up $13.10 at $845.60.
