Canola finished with gains on Friday, rebounding after four days of losses.
Strength in the Chicago soy complex offered some support to canola today, while the Canadian oilseed also remains a bargain among global edible oils. Strong exports also continue to whittle away a tighter-than-expected Canadian supply.
The exclusion of canola in the US biofuel guidance the Biden Administration prepared for the incoming Trump government remains a negative factor for the market, while China’s anti-dumping investigation is another potential bearish factor.
March canola gained $9.20 to $616, and November was up $8.80 at $625.60.
