Canola futures ended higher Thursday, as Chicago soybean futures closed higher and the market remained underpinned by China trade hopes.
Heavy Chinese tariffs on Canadian canola seed, meal, and oil remain in place, but recent discussions between the two countries have been positive. European rapeseed was also higher today, while palm oil was mixed. Chicago soybean oil futures closed in the red, but soybeans hit a 17-month high ahead of tomorrow’s much anticipated USDA supply-demand update.
January canola was up $3.50 at $650.90, and March added $3.30 to $661.60.
