Canola futures finished little changed on Thursday, following the lead of soybeans following a mostly quiet USDA report day for the US market.
Soybeans ended the day mixed, with today’s USDA acreage and grain stocks reports considered mostly neutral versus trade expectations. Losses in palm oil were a bearish factor for canola, but crude oil and soyoil finished with gains.
There’s no sign of a low forming on the canola charts just yet.
May canola slipped 80 cents to $626.40, July was down $1 at $636.10, and November eased 20 cents to $645.10.
