WINNIPEG, Manitoba--Intercontinental Exchange canola futures were weaker on Thursday, pulled lower by declines in crude oil.
Despite those losses in crude having moderated by the time ICE and the Chicago Board of Trade closed, that had little effect on the oilseeds.
The United States and Iran signed their peace deal earlier today, which led to the losses in crude. That also saw the Chicago soy complex and European rapeseed turn weaker. Malaysian palm oil held relatively steady.
The November canola contract remained below its 20- and 50-day moving averages but stayed above the 100-day average.
Saskatchewan reported provincewide spring seeding was up four points at 97 per cent complete as of June 15. The planting of canola was also 97 per cent finished.
