ICE canola ends higher, led by CBOT soybean surge

On June 16, according to media reports, the Canadian canola futures market on the Intercontinental Exchange (ICE) closed up on Thursday, with the benchmark period closing up about 3.14%, following the gains in the Chicago soybean and finished product markets.

Soybean oil futures in Chicago soared 4.4% on the day, while soybean futures rose nearly 3%, together with stronger European rapeseed and Malaysian palm oil futures, boosting market sentiment in Canada.

The rise in international crude oil futures also gave a strong boost to the vegetable oil market.