ICE Canadian canola futures rose on Thursday, lifted by spillover support from soybeans on optimism about US-China trade. US President Donald Trump posted on Twitter that after a "very good" talk with Chinese President Xi Jinping, trade discussions were "moving along nicely."
Greater access for US soybeans to China may curtail Canadian canola exports there, but the canola market is heavily influenced by price movement by its rival oilseed, a trader said. Most-active January canola gained $3.60 to $489.60. Chicago January soybeans rallied more than 3 percent.
Comments
Comments are closed.