Canola Futures Rise on Comparable Oils and Crude Oil

Canola futures on the Intercontinental Exchange (ICE) received support from comparable oils on Friday, as traders adjusted their positions ahead of the weekend.

The prices of canola contracts were boosted by the gains in Chicago soyoil and European rapeseed, while Malaysian palm oil was lower. The slight increase in crude oil prices also contributed to the rise in canola futures.

The Canadian dollar was up more than three-tenths of a U.S. cent compared to Thursday's close, which may have positively affected the price of canola contracts.