ICE Canola Futures Hit 3-Year High on Wednesday as July Contract Breaks CAD 800

According to reports, ICE Canada canola futures closed higher on Wednesday, with the benchmark contract up 2.6% to reach its highest level in nearly three years. The July contract surged past CAD 800 during trading, marking the highest point since early September 2023, while the November contract, representing the new crop, also broke CAD 800 and closed above that level. The rally reflects adverse weather limiting seeding activities and weakness in the Canadian dollar.
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