Canola futures snapped back higher on Wednesday following two days of losses, supported by strength in the broader vegetable oil complex.
Gains in Chicago soybean oil futures amid Iran war-related strength in crude oil spilled over to provide significant support for canola, which posted double-digit advances.
Canola was further underpinned by the strength seen in competing oilseeds and vegetable oils, including European rapeseed and palm oil. Weakness in the Canadian dollar offered further support.
May canola was up $13.20 at $733.30, and November was $13.50 higher at $727.60.
