Glacier FarmMedia – Canola futures on the Intercontinental Exchange received a boost on Thursday. The United States and the European Union imposed new sanctions on Russian oil companies in attempts to bring Russia back to peace talks.
As a result, crude oil surged nearly US$3 per barrel, supporting vegetable oils. Chicago soyoil and Malaysian palm oil were up, while European rapeseed was mostly higher.
The Canadian dollar was up less than one-tenth of a U.S. cent compared to Wednesday’s close.
About 26,300 canola contracts have traded at 10:06 CDT. Prices in Canadian dollars per metric tonne:
Price Change
Nov 620.80 up 7.70
Jan 634.80 up 7.30
Mar 646.60 up 7.10
May 657.50 up 7.20
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
