Winnipeg Commodity Exchange canola futures were higher on Thursday following US soy gains and on crusher and fund buying, but scale-up farmer hedges kept gains in check, traders said. Canola ended $1.10 to $3.70 per tonne higher, with May up $2.90 at $379.50, July up $2.80 at $387.70 and November up $2.70 at $388.90.
Crushers were noted buyers as the Canadian dollar weakened and Chicago Board of Trade soy oil values strengthened, traders said. May soybeans were up 1-3/4 US cents per bushel at US $7.59, and May soybean oil was up 0.39 US cent per lb at 30.60 US cents. Short covering was seen ahead of Friday's US Agriculture Department stocks report.
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