WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange erased most of Wednesday's gains, after being led lower by falling comparable oils on Thursday.
Reports that United States President Donald Trump was unwilling to escalate the war in Iran, as well as Israel and Lebanon agreeing to a ceasefire (that was rejected by Hezbollah), pressured crude oil and took down vegetable oils with it.
Chicago soyoil lost more than two U.S. cents per pound, while European rapeseed and Malaysian palm oil were also negative.
At mid-afternoon, the Canadian dollar was down one-tenth of a U.S. cent compared to Wednesday's close.
There were 87,189 canola contracts traded on Thursday, compared to Wednesday when 111,475 contracts changed hands. Spreads accounted for 59,584 contracts in today's trade.
