ICE Canola Higher On Exporter Pricing

The gains in canola were coming despite a relatively flat tone in the CBOT soy complex at midsession.

Mexico and China were both rumored to be pricing new business on Thursday, which supported canola values. However, a broker said the demand was not very aggressive.

A hint of frost in some of the forecasts also helped underpin the canola market, according to the broker, although he added that there was "not too much to be worried about," for the time being.

Short covering, ahead of Friday’s USDA supply/demand and production reports was also a feature in the canola market, according to traders.

Early weakness in the Canadian dollar was also supportive for canola.

Farmer selling limited the upside in canola, as the harvest progresses in western Canada.

At 10:52 CDT, about 5,400 canola contracts had changed hands.

Western barley futures were untraded and unchanged at midsession.

Prices in Canadian dollars per metric ton at 10:52 CDT: