Canola futures ended higher for the first time in four sessions on Thursday, supported in part by gains in the Chicago soy complex.
The market also drew underlying support from ongoing uncertainty in global energy markets tied to the Iran conflict, which continues to lend support to biofuel-linked commodities. Gains were somewhat limited by the broadly steady-to-bearish tone from the USDA’s WASDE report this afternoon. European rapeseed and Malaysian palm oil were both higher on the day.
May canola gained $3.80 to $708.70, and November was up $4.90 at $719.70.
