Canola Futures Defy US Market Declines
Canola futures continued to rise on Thursday, moving above nearby resistance due to chart-based buying support. Despite this strength, losses were seen in U.S. futures, with soybeans, corn, and wheat all pressured lower by profit-taking.
According to Phil Franz-Warkentin of the Western Producer Markets Desk, the Aug. 13 closing grain and oilseed market update saw canola futures move higher despite broader market declines.