Market seen underpinned by limited farmer selling due to tight supply situation. Statistics Canada pegged the canola harvest on Wednesday at 13.3 million tonnes, lower than the average trade estimate of 13.7 million tons. January canola slipped $2.80 to $599.40 on volume of 7,285 contracts. Touched $606.40, highest price since November 2. March canola dipped $2.90 to $597.10 on volume of 5,101 contracts.
January-March spread widened to a January premium of $2.30, trading 3,833 times. Nearby premium growing due to tight cash market. Chicago January soybeans gained 12 US cents to US $14.91-1/4 per bushel on US export demand and technical buying. Paris February rapeseed eased 0.1 percent. Malaysian February palm oil gained 0.5 percent. Canadian dollar was trading at $0.9914 against the US dollar or US $1.0087 at 1:47 pm CST (1947 GMT), up slightly from Wednesday's close at $0.9917 versus the greenback, or US $1.0084.