Glacier FarmMedia – Canola futures on the Intercontinental Exchange declined on Thursday morning despite positive momentum in comparable oils.
Chicago soyoil, European rapeseed and Malaysian palm oil were higher. Crude oil prices surged after Iran attacked vessels on the Strait of Hormuz. The International Energy Agency announced on Wednesday it will release 400 million barrels of crude oil from its strategic reserves.
The Canadian dollar was down more than one-tenth of a United States cent compared to Wednesday’s close.
Nearly 18,700 contracts were traded. Prices in Canadian dollars per metric ton as of 8:45 CDT:
May 731.00 dn 2.30
Jul 740.30 dn 2.20
Nov 726.80 dn 0.80
Jan 731.00 dn 1.60
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