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ICE Close: Canola Up as Production Uncertainty Supports

Canola futures settled with small gains on Thursday, recovering from earlier losses as speculative positioning and production uncertainty provided support.
 
While crop conditions are relatively favourable across much of Western Canada, development is highly variable with uncertain production prospects keeping a weather premium in the market.
 
Only 42% of the Saskatchewan canola crop was rated good-to-excellent in the latest weekly report, released during the trading session, with the majority rated fair-to-poor.
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