WINNIPEG, Manitoba--Intercontinental Exchange canola futures advanced by double digits on Thursday, pushed higher by strong gains in the Chicago soy complex.

Additional support came from more modest increases in European rapeseed and Malaysian palm oil. Crude oil was mixed, with West Texas Intermediate slightly higher while Brent crude slipped back.

An analyst said concerns about planting delays could also be underpinning canola.

Saskatchewan reported that its spring seeding is 52 per cent complete overall as of May 25, advancing 23 points on the week.

The province's canola was 38 per cent done compared to 15 per cent a week ago.

The July canola contract pushed further above its major moving averages, including trading C$17 above its 20-day average.

Canola crush margins continued to expand, with the July position adding about C$8 at C$388 per tonne above the futures.

The Canadian dollar was stronger Thursday afternoon, as the loonie rose to 72.54 U.S. cents, compared to Wednesday's close of 72.30.

There were 65,684 canola contracts traded on Thursday, compared to 58,627 on Wednesday. Spreading accounted for 36,230 contracts traded.

Prices are in Canadian dollars per metric tonne: Price Change 


 
           Price      Change 
Jul       767.30    up 10.60 
Nov       778.70    up 11.00 
Jan       786.10    up 10.60 
Mar       791.40    up 10.40

Spread trade prices are in Canadian dollars and the volume represents the number of spreads: 


 
Months    Prices                            Volume 
Jul/Nov   10.40 under to 11.70 under        11,175 
Jul/Jan   17.40 under to 18.80 under            94 
Nov/Jan   6.80 under to 7.80 under           3,754 
Nov/Mar   11.70 under to 13.30 under           131 
Nov/May   13.70 under to 14.60 under             6 
Nov/Jul   11.00 under to 11.70 under             6 
Jan/Mar   4.70 under to 5.80 under           1,765 
Jan/Jul   3.40 under to 4.20 under               2 
Mar/May   0.70 under to 2.00 under             627 
Mar/Jul   2.10 over to 0.80 over               393 
Jul/Nov   50.30 over to 42.80 over             162

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

05-28-26 1519ET