Canola Prices Rise Above C$800/Tonne on ICE

Canola futures on the Intercontinental Exchange (ICE) rose slightly on Thursday to surpass the C$800 per tonne mark, despite mixed sentiment in comparable oils.

The price increase was supported by strength from Chicago soyoil and European rapeseed, while Malaysian palm oil was lower.

Crude oil prices were steady to lower due to uncertainty surrounding the conflict between the United States and Iran, as well as a deal between Iran and Oman to create a shipping lane in the Strait of Hormuz.

The Canadian dollar saw a minor increase, up less than one-tenth of a U.S. cent compared to Wednesday's close.