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2 stories mentioning RSV6Updated 47d ago

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Canadian Oilseed Processing Rises 12.8% Monthly in June, Statistics Canada Reports

Canadian oilseed processers crushed 1.2-million tonnes of canola in June, Statistics Canada reported on Thursday, up 12.8% from May.The agency said canola oil production stood at 494.6-thousand tonnes in the month, while meal production was 684.1-thousand tonnes.Processers handled a total 1.17-million tonnes of canola in June, up from 1.04-million tonnes in May.There are 15 crushing and refining plants in Canada, according to the Canola Council of Canada, processing the output of 20-million seeded acres of the crop. It is primarily grown in Western Canada.

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Mining & Metals

Canada Commodities: Oil Higher as US-Iran Hostilities Resume, Saudi Arabia Joins Conflict

Crude oil prices jumped Wednesday, reversing three days of declines, after President Trump said Tuesday night the US will hit Iran "hard" for an attempted surprise attack on American forces in the Middle East. US Central Command did not specify location details.Brent crude futures for September was up 8.1% to $90.90 per barrel, while West Texas Intermediate futures, the US benchmark, advanced 7.7% to $85.37.The rise comes as Saudi forces joined the United States to strike several sites in eastern Iraq, retaliating against drone attacks on Saudi territory. The renewed fighting is again lowering hopes for a full return of supply from the Persian Gulf, which accounted for 20% of daily oil demand before the war blocked the Strait of Hormuz.Gold was last seen down 0.8% to $4,065.80, the lowest level since last October. Traders are waiting to see if the US Federal Reserve's policy committee will announce an interest rate hike when it ends its two-day meeting at 2:00 p.m ET on Wednesday.Wheat futures edged up 0.08% to $6.63 per bushel, while canola futures fell 0.96% to C$775.40 per tonne.

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