Canola futures declined to end the week, following the crude oil market lower.
Crude oil futures were volatile but ultimately lower today, as prices pulled back from recent highs amid shifting geopolitical signals. The crude market was pressured by reports of a potential Iranian peace proposal and ongoing negotiations that raised hopes for easing tensions in the Strait of Hormuz. Despite the decline, prices remained elevated near multi-year highs — generally above $100/barrel.
Proft taking after recent gains also weighed on canola today, while advances in Chicago soybeans and soybean oil helped limit the downside.
July fell $7.50 to $756.30, and November dropped $3.10 to $758.20.
