Canola higher

CHICAGO: ICE Canada canola futures ended mostly higher on Monday on talk of fresh export demand from China following a recent decline in prices, traders said.

Supplies in the cash market were tight as the recent price drop had discouraged farmer selling of canola in storage. March canola futures gained $6.90 to $841.30 per tonne. Most-active May canola settled $4.00 higher at $823.70 per tonne.

India’s rapeseed production could remain steady in 2023 despite a record planting as yields were curtailed by frost and a heat-wave in key producing areas, farmers and industry officials told Reuters. Euronext May rapeseed futures rose 0.2%.