Canola futures followed the Chicago soybean market higher on Thursday.
Although Chicago soybean oil did post modest losses on the day, soybeans remained pointed higher following the news from US President Donald Trump on Wednesday that China might consider buying an additional 8 million tonnes of American soybeans in 2025-26, to go along with the 12 million tonnes the country has already bought.
A weaker Canadian dollar supported canola as well, as did gains in European rapeseed. On the other hand, palm oil and crude oil were both lower.
March canola gained $3.90 to $662.50, and November was $3.40 higher at $671.70.
