Canola futures ended higher on Tuesday, snapping a two-day skid.
Reports attributed the gains today to a technical response to the previous day’s losses. Advances in palm oil were supportive as well. Tight supply-demand fundamentals are continuing to underpin the canola market, with the old-crop contracts trading at a premium to new crop.
Gains in canola were capped by losses in Chicago soybean oil and European rapeseed.
May canola jumped $13.80 to $672.80, and November was $7.10 higher at $650.50.
