Canola Futures Rise Amid Global Commodities Surge

The Intercontinental Exchange (ICE) canola futures rose on Monday morning in Canada, following overnight gains. The increase was attributed to the surge in crude oil prices after a Houthi attack on a key Saudi pipeline.

The spillover effect pushed up values not only in canola but also in other commodities such as the Chicago soy complex, European rapeseed, and Malaysian palm oil.

Interestingly, despite the ongoing Canada-United States trade war, canola has not been targeted along with its oil and meal.