WINNIPEG, Manitoba--Intercontinental Exchange canola futures swung higher at mid-session Monday, despite pressure from significant declines in the Chicago soy complex.
As more uncertainty set into the Middle East situation, crude oil posted strong increases.
"It's 'Groundhog Day,'" an analyst said in referencing the 1993 Bill Murray movie.
"Canola is getting a little bit of a boost out of it," the analyst said.
Statistics Canada is scheduled to release its planted area report on Tuesday. Canola acres for 2026-27 are widely expected to exceed StatCan's March estimate of 21.8 million acres and could challenge the 2017 record of just over 23 million.
