Canadian canola futures closed higher on Thursday, following a rally in US soyaoil futures, traders said. Weakness in the Canadian dollar also helped boost canola futures. ICE canola futures ended $4.70 to $10 per tonne higher, with July up $5.40 at $650.70 and November up $5.70 at $675.40.
But gains were limited by some fund liquidation and farmer selling. Overseas buyers were more interested in buying crops from agricultural areas around the Black Sea, instead of Canadian canola.