ICE Canadian canola futures rose on Thursday, getting a boost from higher soyabean prices after a US report forecast smaller than expected supplies. The US Department of Agriculture projected soyabean ending stocks at the end of the 2018-19 marketing year at 415 million bushels on Thursday, smaller than most analysts expected. Canada's March 31 canola stocks are seen as higher year over year. Statistics Canada reports on Friday, and some investors covered short positions ahead of the estimates, a trader said.
Saskatchewan planting was 9 percent complete as of Monday. Most-active July canola gained $2.80 to $533.20 per tonne. The new-crop November canola added $1.70 to $519.50 per tonne. ICE Futures Canada reported delivery of no May contracts on Thursday.
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