ICE Canadian canola futures rose on Thursday:
Benchmark November canola futures settled up $1.40 at $455.40 per tonne.
One market source said canola was very firmly supported by recent strength in soyabean oil. The November-January canola spread traded 7,985 times, closing at an $8.40 January premium. The January-March spread traded 4,071 times. December soyoil jumped 0.76 cent to settle at 31.34 cents per pound.
Chicago Board of Trade November soyabeans settled unchanged at US$9.33-1/4 a bushel, as good US harvest weather and lower-than-expected weekly export sales data overshadowed confirmation of fresh sales to China, traders said. The Canadian dollar was nearly unchanged against the greenback, pulling back from an earlier three-month high as investors turned their attention to interest rate decisions next week by the Bank of Canada and the US Federal Reserve.
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