WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange showed independent strength in the middle of trading Thursday amid a lack of support from vegetable oils.
An analyst said canola was currently undervalued, but added there were very few reasons why its prices are higher this session.
Iran continued to charge vessels traveling through the Strait of Hormuz and the U.S. seized another tanker in the Indian Ocean Thursday, believed to be smuggling Iranian oil to Asia.
Crude oil was moderately higher. Chicago soyoil and Malaysian palm oil were lower, but European rapeseed was up.
The Canadian dollar was down one-tenth of a U.S. cent compared with Wednesday's close.
About 30,000 canola contracts have traded at 10:02 a.m. CDT.
Prices in Canadian dollars per metric ton:
Price Change
May 725.40 up 4.30
Jul 738.80 up 3.80
Nov 735.70 up 5.30
Jan 742.00 up 5.10
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
04-23-26 1135ET
