ICE Close: Choppy Day, Mixed Close

Canola futures were mixed at Wednesday's close, setting fresh highs in the front months and moving lower in the more deferred positions.

Gains in Chicago Board of Trade soyoil futures provided some spillover support for canola, but the other US grains and oilseeds were all weaker. The underlying fundamentals for canola remain supportive, as the market continues to work to ration demand in the face of tight supplies.

Rail movement in British Columbia was reportedly resuming, bringing grain to the port of Vancouver once again. However, with more rain in the forecast, there could be more weather-related delays in the region.

Markets in the United States will be closed Thursday for Thanksgiving and positioning ahead of the holiday was a feature.

January canola gained $5.50 to $1,030.20, March was $2 higher at $999.40 and May added 20 cents to $962.30.

Source: DePutter Publishing Ltd.

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