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Commodities

Canola Futures Surge Amid Crude Oil Gains and Weather Concerns

Guavy AI Editorial Team
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Oil Wheat Corn
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Canola futures saw significant gains on Thursday, closing just shy of contract highs. The upward trend was influenced by the increase in crude oil and the Chicago soy complex prices.

The weather concerns in parts of the Prairies added to the firm tone, with soybean, corn, and wheat futures in the U.S. also experiencing higher values.

This market movement is particularly notable ahead of Friday's monthly USDA supply/demand estimates, which are expected to have a significant impact on grain and oilseed prices.

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