Canola Swings Higher with Veg Oils

Jul 12, 2022

Canola futures were higher on Monday, getting spillover support from gains in other vegetable oils.

Strength in the Chicago soy complex, along with more moderate gains in European rapeseed and in the off session for Malaysian palm oil combined to support the Canadian oilseed. Global crude oil prices were narrowly mixed, providing little direction to veg oils.

There is the chance of rain across the Prairies this week, with rising temperatures expected to spark thunderstorms.

November canola was up $11.60 at $866.70, January was $11.10 higher at $873.30, and March gained $10.60 to $879.90.

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