ICE Canola Slips Back as Crude Oil Advances

WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange were slightly lower Monday morning despite gains in comparable oils.

U.S. President Donald Trump said on Sunday the U.S. Navy will escort vessels out of the Strait of Hormuz, an initiative titled "Project Freedom," but details were scarce. Iranian forces said they had fired a warning shot at a U.S. warship trying to enter the waterway Monday, but the U.S. denied the report of a missile strike.

June Brent crude oil gained US$2.50 per barrel at US$110.67, while May West Texas Intermediate added US$0.56/barrel at $102.59.

Chicago soyoil was down, while European rapeseed and Malaysian palm oil were higher.

Statistics Canada will release its stocks of principal field crops report on Wednesday.

The Canadian dollar was down two-tenths of a U.S. cent compared with Friday's close.

Nearly 18,000 contracts were traded. Prices in Canadian dollars per metric ton as of 8:45 a.m. CDT:

 
           Price      Change 
Jul       754.10     dn 2.20 
Nov       756.80     dn 1.40 
Jan       753.30     dn 1.40 
Mar       766.80     dn 2.60 
 

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

(END) Dow Jones Newswires

05-04-26 1013ET