Glacier FarmMedia – Canola futures on the Intercontinental Exchange were in positive territory coming out of the weekend as crude oil prices surged once again.
The United States military announced it will begin a blockade of ships entering and exiting Iranian ports at approximately 9 a.m. CDT. Peace talks between the U.S. and Iran ended last weekend without any resolution to the conflict. As a result, crude oil prices rose more than US$6 per barrel.
Rising crude oil has spilled over into vegetable oils with Chicago soyoil, European rapeseed and Malaysian palm oil showing gains.
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By Glen Hallick Glacier FarmMedia – Canola futures on the Intercontinental Exchange continued higher mid-session Thursday, pushed up by sharp…
The Canadian dollar was down less than one-tenth of a U.S. cent compared to Friday’s close.
Nearly 23,400 contracts were traded. Prices in Canadian dollars per metric ton as of 8:38 CDT:
May 710.00 up 5.80
Jul 722.90 up 5.60
Nov 723.30 up 4.80
Jan 730.90 up 4.90
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