Canola Futures Drop $6.30/mt as Oil Slides

ICE canola futures fell, with July contract down $6.30 per metric ton and November contract down $4.20 to $759.70.
Brent crude oil declined as Strait of Hormuz activity eased, while Chicago soy oil fell 1.38% and soybeans rose 0.18%.
Euronext rapeseed futures slipped 0.24% and Malaysian palm futures dropped 0.96% amid broader vegetable oil weakness.
Canadian dollar continued its decline trend since May 1, and President Donald Trump’s China visit sparked hopes of Chinese mediation in Iran conflict.