ICE Close: Higher Crude Oil Boosts Canola 


Canola futures ended higher for the first time in four sessions on Wednesday, as strength in Chicago soybeans and soyoil helped to pull the market higher. 

Gains in crude oil amid rising Middle east tensions added to the upside in canola, as did advances in European rapeseed and palm oil. 

Canola remains under heavy pressure from soybeans, but the US market appears oversold and primed for a turnaround.  

November lost $6.20 to $623.90, and January gained $7 to $632. 




Source: DePutter Publishing Ltd.

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