Canola Futures Rise Amid Crude Oil Price Spike

ICE Canada canola futures began the week on an upbeat note, rising in overnight trading.

This comes as crude oil prices spiked following a Houthi attack on a key Saudi pipeline, which had a ripple effect across various commodity markets.

The Canadian Department of Agriculture and Agri-Food's projection for this year's canola harvest remains at 22.5 million tonnes, while Statistics Canada is set to release its first production report for the 2026-27 season on Wednesday.

Alberta reported that its canola harvest was more than two per cent complete as of Friday, with early yields averaging 37 bushels per acre.