Canola futures closed modestly higher on Monday, supported by bargain buying following recent losses and continued strength in Canadian export demand.
Weakness in Chicago soybean futures and softer crude oil prices limited the upside, while traders remained cautious ahead of Tuesday's USDA supply-demand report. A relatively weak Canadian dollar also provided some support by improving the competitiveness of Canadian canola in export markets.
January added $5.20 to $757.40, and November 2027 climbed $2.40 to $756.30.
