ICE Midday: Canola Supported By Comparable Oils

WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange were higher to start the week, supported by rising crude oil prices and a weaker Canadian dollar.

Iran-backed Houthi rebels attacked a pipeline in Saudi Arabia Friday, forcing its shutdown and raising crude oil prices by more than US$3 per barrel. That also generated gains in Chicago soyoil, European rapeseed and Malaysian palm oil.

An analyst said increased tensions between Russia and Ukraine and a slow Western Canadian canola harvest with the first major frost approaching in some areas also were supportive of canola. The oilseed was only 2.4% harvested in Alberta as of Sept. 8.

The entire Prairie region will see rain Monday with daytime temperatures peaking at around 15 degrees Celsius. Some areas also could see thunderstorms.

The loonie also dropped below 72 U.S. cents, supporting canola prices, with it down nearly three-tenths of a U.S. cent compared with Friday's close.

About 33,000 canola contracts have traded at 11:17 ET. Prices in Canadian dollars per metric tonne:

Canola 
          Price      Change 
Nov       824.40     up 7.20 
Jan       835.50     up 8.40 
Mar       844.50     up 9.30 
May       852.00     up 12.10 
 

Source: Commodity News Service Canada, news@marketsfarm.com

(END) Dow Jones Newswires

September 14, 2026 11:59 ET (15:59 GMT)