ICE Close: Canola Up with US Markets

Canola futures ended the week higher, gaining with the rally in US crop markets. 

Most of the strength in the US markets was linked to a Ukraine attack on a Russian port that handles grain, raising fears about the potential for tightening global supplies as the two sides strike port and grain facilities. However, there is the potential for weakness ahead as the Prairie harvest gets underway. 

November canola was up $16.60 at $797.50, January added $15.70 to $799.90, and March was $14 higher at $799.60. 

In this Mesonet Weather Report, Oklahoma state climatologist Gary McManus explains how drought conditions are expanding across the state, while new rain chances may offer some relief. Get the latest Oklahoma weather outlook, drought updat