Canola futures ended higher Friday in quiet holiday trade, with U.S. grain and oilseed markets closed for the Independence Day holiday.
The lack of direction from Chicago soybeans, soyoil and U.S. grains kept volumes light, but canola found support from ongoing worries about excess moisture across parts of the Prairies and the potential for saturated fields to trim yield prospects or reduce harvested acres.
Saskatchewan’s canola crop was rated 79% good to excellent as of June 29, up from 76% two weeks earlier, but flooding and surplus moisture remain concerns in the province. In Alberta, canola conditions slipped to 57% good to excellent as of June 30, down from 60% on June 16, with conditions especially weak in the North West and North East regions.
November canola was up $3.20 at $739.70, and January was $2.40 higher at $747.80.
