ICE Canadian canola futures closed higher on Wednesday, supported by a mild round of bargain buying after six straight days of losses, traders said. Some concerns about harvest delays due to rainy weather also lent support to the market. Plentiful supplies limited the gains, a trader said. November canola futures contract ended up $1.70 at $441.10 per tonne. The November-January canola spread traded 2,806 times, closing a $7.70 January premium. The spread has traded in a tight range in recent weeks and fluctuated by just 20 cents on Wednesday.

The benchmark CBOT November soyabean contract ended down 5-1/2 US cents at US$8.66-1/2 a bushel on forecasts for favourable Midwest crop weather and disappointment that China did not include the oilseed on a list of US imports exempted from tariffs.

Copyright Reuters, 2019