Canola futures remained pointed higher on Wednesday, closing higher for the third straight day.
Canola has strengthened this week on the heels of Monday’s Statistics Canada crop production report, which revised this year’s crop down from the federal agency’s late August estimate.
However, China’s anti-dumping probe and ongoing harvest pressure remain undermining price influences. Tuesday’s Manitoba crop report pegged the harvest in that province at 55% complete, with canola just under half finished.
November canola gained $8.70 to $582, and January was $8.30 higher at $593.90.
