Canola futures moved higher in mostly quiet pre-holiday trade on Tuesday.
The January contract rallied up to test overhead resistance, while the heavier-traded March futures stayed well below the $640 level.
A Statistics Canada report today pegged the November Canadian canola crush at 1.019 million tonnes. That is down 7.4% from the October all-time high of 1.101 million but more than 12% above the same month last year. It also marks the third time the monthly national canola crush exceeded the 1-million tonne mark, after it first pushed over that benchmark in July at 1.005 million.
Canola trade will be closed Wednesday and Thursday for Christmas and Boxing Day. The Chicago market will reopen on Thursday.
January gained $11.60 to $620, and new-crop November added $8.60 to $605.70.
