Strength in Chicago soybean oil and weakness in the Canadian dollar helped propel canola futures to double-digit gains to begin the week.
Soyoil and soybean futures both climbed amid increasing optimism that last week’s trade deal between the US and China will lead to additional Chinese purchases of American beans. Meanwhile, the Canadian dollar dropped to a three-week low against its US counterpart.
On the other side, European rapeseed and palm oil both closed lower.
January canola gained $10.90 to $647.90, and March was up $11 at $659.
