WINNIPEG, (Manitoba): ICE canola futures bounced on Thursday, ending a five-day fall, on spillover support from higher soyaoil and crude oil.
Concerns about hail and wind damage to crops in Saskatchewan and exporters’ pricing contracts, added to support, a trader said.
November canola gained $1.70 at $892.50 per tonne. Later-delivery contracts declined.
In the Canadian province of Saskatchewan, 11% of canola has been harvested, the provincial government said.
November-January canola spread traded 1,955 times.
US soybean futures firmed on bargain-buying after a six-session slide and better-than-expected weekly export sales data.
Euronext November rapeseed futures and Malaysian October palm oil futures also climbed.
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