Canola futures closed just mixed on Monday, as early gains faded amid a pullback in crude oil.
Crude initially jumped on the breakdown of U.S.-Iran peace talks over the weekend and as the U.S. said it would blockade the Strait of Hormuz. However, the strength in crude eventually cooled, with nearby U.S. futures trading around $1.35 higher at $98 late this afternoon. Chicago soybeans and soybean oil both ended lower.
May canola was up $1.10 at $705.30, and November eased 70 cents to $717.80.
