Gains in Chicago soybean oil spilled over to help support canola futures on Thursday.
Strength in soybeans also helped to boost canola, with both the European rapeseed and Malaysian palm oil markets shut for a holiday. Advances in crude oil, along with losses in the Canadian dollar were also supportive for canola. Dwindling old-crop supplies continued to underpin the canola market as well.
July canola was up $4.20 at $696.60, and November was $2.40 higher at $652.50.
