WINNIPEG, (Manitoba): ICE canola futures jumped to an all-time high on Tuesday, driven by concerns about stranded vegetable oil supplies from Ukraine.
Worries about the Russia-Ukraine war fired up prices of European rapeseed first and spilled over to canola, a trader said.
Most-active May canola rose $19.70 or 1.8% to $1,116.90 per tonne. The contract set a record high of $1,131.10.
May-July canola spread traded 1,849 times. Euronext May rapeseed futures also soared to a record high. US soybean futures rose on expectations for a bump in US exports after a dry growing season in South America.
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