Midday ICE Report: Canola Futures Rise Amidst Negative Oil Prices

Canola futures on the Intercontinental Exchange were slightly higher in midday trading, despite mostly negative sentiment in comparable oils. Crude oil lost over $2 per barrel after the US and Iran agreed to meet in Oman. Chicago soyoil and Malaysian palm oil were in negative territory, while European rapeseed was mostly higher. Analysts said it was critical for March canola to stay above $660 per tonne and soybean prices above $11 per bushel provided support.