ICE Midday: Canola makes gains along with crude oil

Canola futures on the Intercontinental Exchange were showing modest gains in the middle of Wednesday trading, receiving ongoing support from crude and vegetable oils. Despite United States President Donald Trump announcing an extended ceasefire with Iran on Tuesday, Iranian forces attacked three vessels on the Strait of Hormuz on Wednesday, seizing two of them. As a result, crude oil advanced by more than US$2 per barrel. Chicago soyoil was higher, as well as European rapeseed and Malaysian palm oil. The Canadian dollar was down one-tenth of a U.S. cent compared to Tuesday’s close. About 39,400 canola contracts have traded at 10:13 CDT. Prices in Canadian dollars per metric tonne: Price Change May 724.80 up 3.80 Jul 738.30 up 3.30 Nov 734.50 up 4.50 Jan 740.70 up 3.70 To access the latest futures prices, go to ...