Canola futures ended higher on Monday, supported by strength across the broader oilseed complex and gains in vegetable oil markets.
Chicago soybean oil and Malaysian palm oil both trended higher, underpinning canola values, while concerns about uneven planting progress in parts of North America added a layer of support. European rapeseed was higher as well. Crude oil futures also advanced on the day, driven by renewed geopolitical tension in the Middle East and uncertainty surrounding shipping flows through the Strait of Hormuz, which raised the risk of supply disruptions.
July canola was up $2.50 at $758.80, and November was up $5 at $763.20.
