# ICE canola weekly: Crude oil key to canola strength | Farmtario

> ICE canola futures reached 10-month highs in the week ended April 29, as crude oil rose about 16% amid little progress toward ending the Iran war and the Strait of Hormuz remained effectively closed. Chicago soyoil and canola each gained about 4%. Crush margins in both the US and Canada are near record levels.

- Date: 2026-04-29 · published 2026-04-29T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/19854-ice-canola-weekly-crude-oil-key-to-canola-strength-farmtario
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher crude raises biodiesel profitability, lifting soyoil and canola through the energy link. Prolonged Hormuz disruption keeps vegetable oil prices supported.

## Read by commodity

- SBO: bullish ▲
- WTI: bullish ▲
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2026-03-17 | [War-driven diesel rally continues to lift soybean oil amid renewable diesel margin strength - Fastmarkets](https://feedsoft.ai/events/4711-war-driven-diesel-rally-continues-to-lift-soybean-oil-amid-renewable-diesel.md) | +0.6% | +0.2% |
| SBO | 2024-08-26 | [Palm and soybean oil prices rise in response to recovery in crude oil prices](https://feedsoft.ai/events/28878-palm-and-soybean-oil-prices-rise-in-response-to-recovery-in-crude-oil-prices.md) | +3.3% | +1.0% |
| SBO | 2026-04-02 | [WTI Crude Oil Jumps 51% in a Month on Iran War Supply Shock \| Investing.com](https://feedsoft.ai/events/12731-wti-crude-oil-jumps-51-in-a-month-on-iran-war-supply-shock-investing-com.md) | +1.8% | +7.0% |
| SBO | 2025-12-03 | [Vegetable oil prices rose slightly after falling in the previous week](https://feedsoft.ai/events/11261-vegetable-oil-prices-rose-slightly-after-falling-in-the-previous-week.md) | -2.7% | -6.6% |
| SBO | 2016-12-06 | [OPEC news good for Aussie canola \| Farm Online \| ACT](https://feedsoft.ai/events/73561-opec-news-good-for-aussie-canola-farm-online-act.md) | -1.9% | -6.7% |
| WTI | 2026-03-11 | [Crude oil surge likely to support palm prices \| The Star](https://feedsoft.ai/events/15488-crude-oil-surge-likely-to-support-palm-prices-the-star.md) | +14.9% | +14.3% |
| WTI | 2019-04-22 | [U.S. to end all waivers on imports of Iranian oil, crude price jumps](https://feedsoft.ai/events/9604-u-s-to-end-all-waivers-on-imports-of-iranian-oil-crude-price-jumps.md) | -1.1% | -1.9% |
| WTI | 2026-08-31 | [Brent nears $90 after US-Iran strikes: Why is crude oil price rising?](https://feedsoft.ai/events/18055-brent-nears-90-after-us-iran-strikes-why-is-crude-oil-price-rising.md) | +9.6% | +4.0% |

## Sources

- farmtario.com: https://farmtario.com/daily/ice-canola-weekly-crude-oil-key-to-canola-strength/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.