ICE Canola Falls Amid Crude Oil Weakness

Canola futures on the Intercontinental Exchange (ICE) took a downturn on Friday morning. This decline follows weakness in comparable oils, including crude oil.

The price of canola fell with Nov futures hitting $826.80 per metric ton, down by $12.50 from Thursday's close. Jan and Mar futures also dropped to $837.10 and $845.10 respectively, both off by around $12 from the previous day.

The decline in oil prices may have contributed to the fall in canola futures. Chicago soyoil and European rapeseed were down as well, while Malaysian palm oil was mostly lower.