ICE Canadian canola futures closed higher Wednesday, the benchmark up about 2.6%
to a near three-year peak, driven by adverse weather delaying planting, a weak
Canadian dollar, and gains in crude and other vegetable oils. The July contract
briefly topped C$800 intraday—its highest since early September 2023—on a surge
in volume; the November contract also traded and closed above C$800. An analyst
said canola has been strong recently and continues to be influenced by the Iran
war.
