WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange extended their rallies in the middle of Thursday trading, receiving support from comparable oils.
The sentiment towards a new deal to reopen the Strait of Hormuz turned from optimistic to cautious. Iran-backed Houthi rebels attacked Saudi oil tankers in the Red Sea and in the Gulf of Aden on Wednesday. Crude oil is up by more than US$1 per barrel.
European rapeseed was up while Chicago soyoil was slightly higher. Malaysian palm oil was down.
Rain and cooler-than-normal temperatures are in the forecast for northern and central Alberta today, while southern Alberta will see sunny skies and normal daytime highs. Most of Saskatchewan will see showers, while southern Manitoba has a risk of thunderstorms.
The Canadian dollar was virtually unchanged compared to Wednesday's close.
