WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange rallied for the fourth straight session Monday, with the November contract exceeding its 20-day average.
Crude oil prices gained more than US$2 per barrel, largely due to uncertainty over a new deal to reopen the Strait of Hormuz. September Chicago soyoil jumped by nearly one U.S. cent per pound, while European rapeseed and Malaysian palm oil also were higher.
Monday will see moderate daytime temperatures throughout the Prairies with most areas receiving precipitation later in the day.
The Canadian dollar was virtually unchanged compared with Friday's close.
About 28,900 canola contracts have traded at 11:28 a.m. ET.
