November canola and all corn futures months are up the daily limit Thursday morning as traders look beyond the nuclear crisis in Japan.
Wheat and soybeans are also up strongly.
At 11:30 in Winnipeg, November canola is up $30 at $553 per tonne. Nearby May is up $29.30 at $563.20.
Strong weekly U.S. grain exports, supported by buyers snapping up bargains after the recent price decline, and rumors that China was considering buying U.S. corn propelled the market higher.
Cattle and hog futures also rose. American pork exporters said regular orders have been coming in from Japan.
Heighten tensions in the Middle East and North Africa drove oil back up over $100 per barrel in New York.
U.S. futures were also supported by a drop in the U.S. dollar as traders took comfort in news Officials from the G7 leading world economies were meeting Friday to discuss ways to ensure the crisis in Japan does not cause a financial meltdown.
Also positive for markets were weekly U.S. reports that indicated the U.S. economy is continuing to rebound.
