Canola futures ended higher for the third straight day on Monday as the market continued to draw support from Friday’s Statistics Canada grain stocks report.
The report confirmed a tightening canola supply situation, with nationwide Dec. 31 stocks reported at 11.38 million tonnes, down more than 19% from the same date a year earlier. Further support for canola today came from strength in palm oil and mostly higher European rapeseed.
On the other hand, Chicago soybeans were steady while soyoil and soymeal finished with losses.
March canola added $5 to $661.80, and November gained $4.40 to $651.50.
