Canola futures settled little changed on Thursday amid a volatile day in the crude oil market.
Crude surged to a four-year high above $126/barrel earlier in the session before reversing lower, with U.S. crude settling near $105 and Brent falling back toward $114, as traders reacted to ongoing Iran war supply disruptions alongside profit taking and shifting market sentiment. Chicago soybean oil futures managed gains, but soybeans were just mixed. Gains in the Canadian dollar were negative for canola today.
July was down a dime at $763.80, but November managed to post a gain of $1.60 to $761.30.
