
ICE Canola: Pressure Returns for Canola

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Canola futures on the Intercontinental Exchange are declining due to weaker vegetable oils, harvest pressure, and low export levels. November canola may test a support level of C$600 per ton. Meanwhile, crude oil prices are rising following a Russian attack on Ukrainian gas facilities. Weather forecasts indicate high temperatures below 20 degrees Celsius in Alberta and Saskatchewan, with thunderstorms possible in southern Manitoba. The Canadian dollar remains steady, and approximately 28,900 canola contracts have been traded.
