Canola futures were higher for the first time in four sessions on Friday, even as the Chicago soybean complex was weaker following today’s USDA supply-demand update.
Some support for canola came from positioning ahead of the Canadian Thanksgiving holiday on Monday. US markets will be open for the day. Strength in outside markets also helped to underpin.
The Canadian grain Commission report canola exports for week No. 9 of the 2024-25 marketing year at 160,500 tonnes, up from 86,700 the previous week. Total canola exports through week No. 9 continue to run well above a year earlier.
November canola was up $2.50 at $614.40, and January was $1.80 higher at $626.80.
