Canola futures on ICE decline as lack of weather concerns and OPEC+ supply hike weigh on prices.

Canola futures on the Intercontinental Exchange retreated on Friday as a lack of weather concerns pressured the oilseed. Most of Saskatchewan and Alberta are expected to see rain showers, while southern Manitoba will be warm and dry. Chicago soyoil and Malaysian palm oil were lower, while European rapeseed was higher. Crude oil was lower due to OPEC+'s planned supply hike. The Canadian dollar was up four-tenths of a U.S. cent compared to Thursday's close.