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Commodities

Canola Futures Plummet as Crude Oil Prices Soar

Guavy AI Editorial Team
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Oil
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ICE canola futures took a hit on Monday morning, plummeting below their major averages. The decline was swift and significant, with prices falling across the board.

The move comes despite crude oil prices surging after US President Donald Trump rejected Iran's proposal to reopen the Strait of Hormuz over the weekend. However, Trump has indicated that US negotiators will return to the bargaining table this week.

Chicago soyoil was steady, but European rapeseed and Malaysian palm oil were lower or mixed, respectively.

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