WINNIPEG, Manitoba--Gains in canola futures on the Intercontinental Exchange were fading by mid-session Thursday, despite support from most comparable oils.
Iran rejected the ceasefire proposal from United States President Donald Trump and now the market waits to see if he makes good on his threat to attack Iranian energy and power infrastructure on Friday.
The increases in crude oil generated sharp gains in Chicago soyoil and Malaysian palm oil, while MATIF rapeseed was struggling to remain positive. There were also increases in Chicago soybeans, but soymeal was easing back.
The May canola contract remained ahead of its moving averages.
Canola crush margins pushed higher with its May position up by nearly C$15 at more than C$308 per tonne above the futures.
The Canadian dollar was weaker late Thursday morning with the loonie at 72.27 U.S. cents, compared to Wednesday's close of 72.46.
Approximately 34,700 canola contracts were traded as of 11:21 a.m. EDT, with prices in Canadian dollars per metric tonne:
Price Change
May 728.30 up 1.10
Jul 740.90 up 1.00
Nov 735.90 up 1.80
Jan 742.10 up 2.60
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
03-26-26 1144ET
