Winnipeg canola futures moved slightly higher Wednesday on exporter pricing and light farmer selling.
January canola, which is nearing expiry, closed at $415.40 per tonne, up $2.10 on 18 trades.
Most actively traded March rose 10 cents to close at $413.40 on 8,279 trades.
May rose 10 cents to close at $420.20 on 192 trades.
The Bank of Canada at noon Wednesday said the Canadian dollar was worth 96.77 cents US, up from 96.41 cents Jan. 5. The U.S. dollar was worth $1.0334 Cdn.
The Winnipeg January barley contract closed down $2.80 at $157.20 with no trades. March fell $2.80 to $154 on 30 trades.
Chicago March soybeans, the most active month, fell two cents to $10.59 US per bushel.
Light crude oil in New York for February delivery extended its rally to 10 days, closing at $83.18 US per barrel, up $1.41 on cold U.S. weather.
Canola market was supported by buying thought to be related to new export business.
Prospects for bumper South American soy crops and news of China introducing soy and rapeseed import licenses weighed on the market.
Brazilian soybean region weather has been ideal for growth.
Analysts expected the China import license issue will not stop trade but might cause delays.
U.S. market watchers think investment funds rebalancing their investments could make big moves into crop futures late this week.
