ICE Canola Rising With Crude Oil

WINNIPEG, Manitoba--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.

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:

 
           Price      Change 
May       710.00     up 5.80 
Jul       722.90     up 5.60 
Nov       723.30     up 4.80 
Jan       730.90     up 4.90 
 

Source: Commodity News Service Canada, [e-mail]

(END) Dow Jones Newswires

04-13-26 1008ET