Canola futures rebounded on Friday, overcoming losses earlier in the session.
Later advances in crude oil amid the war in Iran offered support to canola after market was initially weighed down by early weakness in crude and profit taking. Gains in palm oil and declines in the Canadian dollar further underpinned canola. A weak employment report from Statistics Canada today sent the loonie to a 10-day low against its American counterpart.
Chicago soybeans ended a bit lower today, while soybean oil was just mixed. European rapeseed was mixed as well.
May canola was up $5.60 at $739.90, and November added $3.70 to $734.20.
