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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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Mesonet

Video: Mesonet

Wes Lee, OSU Extension Mesonet agricultural coordinator, takes a look at the soil moisture maps to see whether the recent rainfall made an impact. State climatologist Gary McManus predicts more rainfall is on the way.