ICE canola futures jump

02 Jul, 2023

WINNIPEG, (Manitoba): ICE canola futures jumped nearly 4% on Friday to touch a six-week high, boosted by soaring US soybean prices after the US Department of Agriculture released smaller than expected soybean planting figures. Crusher buying and short-covering by commodity funds added to canola’s lift, a trader said. November canola gained $25.40 to settle at $736.40 per metric ton. It touched the highest most-active price since May 16. November-January canola spread, the most active inter-month spread, traded 5,507 times.

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