Canola futures ended with slight gains on Thursday, as support from strength in Chicago soyoil was partially offset by a higher Canadian dollar and generally mixed outside vegetable oil markets.
Crude oil provided some underlying support to the broader oilseed complex, while ongoing geopolitical tensions kept energy markets volatile. However, the stronger loonie limited upside in Canadian dollar-denominated canola. With harvest getting underway across parts of the Prairies, seasonal pressure is also beginning to build. Today's Saskatchewan crop showed the overall harvest in that province at 4% complete as of Monday, up a modest 2 points on the week.
November canola was up 50 cents to $820.40, and January added $1 to $828.90.
