Canola has remained above the lows its futures hit when China slapped on a 75.8 per cent tariff on the Canadian seed.
For the week ending August 21, the November canola contract on the Intercontinental Exchange had a net gain of $8.80 at $663.30 per tonne.
Also, the November closed August 21 up $13 from when canola took the initial hit from China nine days earlier.
Just as the harvest pace across the Canadian Prairies begins to build steam, the futures have recovered – for now.
That’s largely due to a significant turnaround in the soyoil futures at the Chicago Board of Trade on August 21.
The October contract jumped more than 2.4 cents to end the day at 53.6 cents per pound.
That gave soyoil a net gain of 1.6 cents from where it was a week earlier.
