WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange were slightly higher on Friday morning, although canola was pressured by weaker crude oil prices.
The United States and Iran remained reluctant to sign off on a potential peace deal to end their war. Nevertheless, crude oil continued its ongoing decline. Chicago soyoil and Malaysian palm oil made gains while European rapeseed was mostly lower.
Most of the Prairies are under heat warnings on Friday with the most extreme heat located in Saskatchewan. The conditions are expected to persist into the weekend.
The Canadian dollar was steady compared with Thursday's close. Statistics Canada reported today that the economy contracted by 0.1% on an annual basis in the first quarter of 2026, compared with a 1% decline in the fourth quarter of 2025. This met some definitions of a technical recession.
Nearly 18,000 contracts were traded. Prices in Canadian dollars per metric ton as of 9:45 a.m. ET:
