WINNIPEG -- Canola futures on the Intercontinental Exchange landed in positive territory on Thursday.
An analyst attributed canola's increases to a correction on West Texas Intermediate crude oil after it dropped to US$70 per barrel, which "gave life" to other commodities, including canola.
Crude oil gained more than US$1 per barrel, while Chicago soyoil and European rapeseed were higher. Malaysian palm oil was lower.
Ahead of Statistics Canada's planted area report on Tuesday, canola projections are at 22.1 million and 23 million acres.
At mid-afternoon, the Canadian dollar was up more than one-tenth of a U.S. cent compared to Wednesday's close.
