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ICE Close: Canola Adds to Previous Day’s Gains

Canola futures closed higher for the second straight day on Wednesday, adding to the gains from the previous day. 

The canola market was closed on Monday to mark Remembrance Day when the Chicago soy complex shot higher on Brazilian weather problems. Soybeans and soymeal were lower today, although soyoil managed gains.  

After posting heavy losses in September and October, the canola market is recovering alongside other vegetable oils, including palm and soy. 

January canola was up $5.60 at $719.50, March was $4.80 higher at $725.10, and May gained $5.10 to $728.50. 

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Summer Weather Outlook: Hotter, Wetter, and Full of Potential

Video: Summer Weather Outlook: Hotter, Wetter, and Full of Potential

With the 2025 growing season underway, Georgia farmers are keeping a close eye on the forecast. UGA Climatologist Pam Knox says this summer leans toward hotter and wetter conditions, fueled by long-term rising temperatures and a neutral El Niño/La Niña pattern. That neutrality could also mean more tropical activity — a key source of summer rainfall in the Southeast.