Forex

Canola Futures Correct Amid Strengthening Loonie and Iran Sanctions

Guavy AI Editorial Team Published August 22, 2026

Instruments

CAD

ICE Canola futures were in correction mode on Friday morning as the Canadian dollar continued to strengthen, reaching 72.73 U.S. cents.

This came amidst reports that Washington will impose 'the toughest sanctions in history' against Iran, according to United States Treasury Secretary Scott Bessent.

Despite elevated crude oil prices, Canola futures were still experiencing a downward trend with nearly 12,800 contracts traded.

The Wire

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