Canola futures remained pointed higher on Tuesday, with both the May and November contracts closing above the $700/tonne threshold.
Strength in Chicago soybean oil, which is trading at more than two-year highs, continued to offer support to canola. Advances in palm oil and European rapeseed, along with weakness in the Canadian dollar, helped to boost canola as well.
Crude oil was higher as US and Israel military strikes continued on Iran for the fourth day.
May gained $8.20 to $706.60, and November was up $5.70 to $707.40.
