ICE Close: Crude Strength Boosts Canola 

Support from crude oil helped canola futures to gains on Tuesday. 

Crude touched its highest since October, supported by rising tensions in the Middle East, drone attacks against Russian refineries, and expectations that OPEC+ will maintain its production cuts at least until June. 

The strength in crude spilled over to support soybean oil and other vegetable oils, including canola. 

Fund buying and better export demand further underpinned canola. 

May canola was up $1.10 at $635.30, July added $1.30 to $644.10, and November gained $1.30 to $652.10. 

Source: DePutter Publishing Ltd.

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