Canola Market Continues Upward Trend Amid Looming Harvest

The canola market continued its upward trend on Thursday, as ICE Futures contracts remained higher at midday.

Solid end-user demand from exporters and domestic crushers has been a supportive factor, as they work to secure old crop supplies ahead of the looming harvest season.

The November contract broke back above the C$800 per tonne level, with chart-based positioning contributing to the gains.

Chicago soybeans were narrowly mixed, while soyoil was mostly lower, putting some pressure on the canola market. Crude oil was also down on the day.