WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange were lifted on Friday due to inflamed hostilities in the Middle East and speculation over biofuel blends in the United States.

Israel launched attacks on Iran on Thursday night, targeting the latter's nuclear program. The heightened tension in the Middle East caused crude oil to gain nearly $5 per barrel.

This morning, reports suggested that the U.S. Environmental Protection Agency had submitted new biofuel proposals, which included greater proportions than previously thought. An analyst said there would be greater demand for vegetable oils if these came to fruition. Chicago soyoil traded up its daily limit of three U.S. cents per pound.

European rapeseed and Malaysian palm oil were also higher.

At mid-afternoon, the Canadian dollar was up one-tenth of a U.S. cent compared to Thursday's close.

There were 132,093 canola contracts traded on Friday, which compares with Thursday when 85,620 contracts changed hands. Spreading accounted for 86,298 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne.


 
           Price      Change 
Jul       731.00     up 7.20 
Nov       723.20    up 15.00 
Jan       730.30    up 14.80 
Mar       735.10    up 14.00 

Spread trade prices are in Canadian dollars and the volume represents the number of spreads:


 
Months    Prices                            Volume 
Jul/Nov   17.00 over to 7.00 over           27,643 
Jul/Jan   4.00 over to 0.70 over                25 
Jul/Mar   5.90 over to 4.80 under                6 
Nov/Jan   4.00 under to 7.40 under          11,074 
Nov/Mar   8.00 under to 12.80 under            619 
Nov/Jul   17.70 under to 18.00 under             2 
Jan/Mar   3.50 under to 5.60 under           2,818 
Jan/May   7.70 under to 9.60 under              12 
Jan/Jul   10.60 under to 12.00 under             6 
Mar/May   2.60 under to 4.70 under             495 
Mar/Jul   6.10 under to 7.10 under               1 
May/Jul   1.70 under to 3.20 under             338 
Jul/Nov   37.30 over to 30.40 over             110 
 

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

06-13-25 1521ET