Optimism over the possibility of the United States and Iran returning to the bargaining table this weekend pulled crude oil, taking the commodities with it. After Israel and Hezbollah reached a ceasefire deal, Iran said the Strait of Hormuz was now open to shipping. However, the U.S. Navy will maintain its blockade of Iranian ports.

The percentage of U.S. soybeans in drought slipped two points at 29 per cent as of April 14, reported the Drought Monitor. This time last year soybeans were at 23 per cent.

Reuters reported Australian farmers are switching to planting canola instead of wheat due to depleted fertilizer supplies. Canola area is to increase by 700,000 acres at 4.2 million, while wheat is to drop 1.5 million acres at 10.6 million.

CORN futures were a pinch lower in its July contract Friday but had small upticks in its other months.

The U.S. Drought Monitor said 26 per cent of the corn was in drought, down three points from the previous week. Last year it was 30 per cent.

The U.S. called on G20 and the International Monetary Fund to co-ordinate access to fertilizer due to supply disruptions stemming from the Middle East war.

The Buenos Aires Grain Exchange added 4 million tonnes to its call on Argentina’s 2025-26 corn crop at 61 million tonnes. The Rosario Grain Exchange projected 67 million tonnes, but the USDA pegged it at 52 million tonnes.

WHEAT futures were mixed on Friday, with declines in Chicago and modest gains in Kansas City and Minneapolis.

Dryness is expected to continue across the U.S. Plains for the next two weeks. The May-June weather outlook for much of the winter wheat belt called for above average temperatures and below normal precipitation, especially for Kansas and Nebraska.

Meanwhile, the northern half of the U.S. Plains are facing frost warnings during the weekend.

The Drought Monitor placed 68 per cent of U.S. winter wheat in drought compared to 34 per cent a year ago. Spring wheat is at 18 per cent.

The French soft wheat crop was unchanged at 84 per cent good to excellent with the durum crop at 81 per cent.

Reuters reported that Argentine farmers are faced with the doubling of price for urea. That could see farmers switch to barley or accept lower wheat yields in using less fertilizer.

The post U.S. Grain/Oilseed Review: Soybeans, wheat fend off weaker crude appeared first on Country Guide.

Glacier FarmMedia – Intercontinental Exchange canola futures were weaker on Friday, pulled down by sharp declines in crude oil, Chicago soyoil and MATIF rapeseed.

With hopes for the United States and Iran to return to the bargaining table this weekend, crude oil fell back, putting pressure on the vegetable oils. Malaysian palm oil was also down, but Chicago soybeans managed small increases.

An analyst said caution is necessary in the current market until the situation in the Middle East is more clear.

The July contract slid below its 50-day moving average but remained well ahead of its other technical levels.

Agriculture and Agri-Food Canada issued its April supply and demand estimates, with canola production for 2026-27 remaining at 19.2 million tonnes and ending stocks at 1.06 million.

Canola exports for the week ended April 12 were relatively steady at about 284,000 tonnes, the Canadian Grain Commission reported. That brought the cumulative exports to nearly 5.9 million tonnes, about 1.5 million behind last year’s pace.

The Canadian dollar was higher on Friday afternoon, with the loonie at 73.11 U.S. cents, compared to Thursday’s close of 72.94.

There were 86,753 canola contracts traded on Friday, compared to 82,503 on Thursday. Spreading accounted for 54,540 contracts traded.

Prices are in Canadian dollars per metric tonne:

                        Price     Change

Canola          May     697.40    dn 12.50

                Jul     712.00    dn 12.30

                Nov     711.60    dn 11.20

                Jan     718.60    dn 11.20

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Glacier FarmMedia – Canola futures on the Intercontinental Exchange were down hard at mid-session Friday, as crude oil tumbled, taking the vegetable oils with it. However, the Canadian oilseed was moving off of earlier lows.

The markets were riding a wave of optimism with the United States and Iran heading toward resuming their talks. That led to crude oil dropping by more than US$12 per barrel.

The Chicago soy complex was lower, with soyoil retreating. While Malaysian palm oil was down modestly there were large declines in MATIF rapeseed.

“The impact on the markets was pretty swift,” an analyst said. “Whether it’s rational or not is another thing.”

“I would be very cautious trading on this stuff,” the analyst warned.

Canola exports of 284,100 tonnes for the week ended April 12 were little changed from the previous week, the Canadian Grain Commission reported. After 36 weeks, cumulative exports of 5.87 million tonnes were more than 1.5 million tonnes less than a year ago.

The Canadian dollar was higher by late Friday morning with the loonie at 73.17 U.S. cents, compared to Thursday’s close of 72.94.

Approximately 58,750 canola contracts were traded as of 10:26 a.m. CDT, with prices in Canadian dollars per metric tonne:

                        Price     Change

Canola          May     699.80    dn 10.60

                Jul     714.00    dn 10.30

                Nov     714.30    dn  8.50

                Jan     721.60    dn  8.20

To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/.

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One day after Israel and Lebanon reached a 10-day ceasefire, Iran announced that the Strait of Hormuz will be reopened for the remainder of the ceasefire. The announcement caused crude oil prices to drop between US$7 to US$9 per barrel. United States President Donald Trump said that he expects the war with Iran to end “pretty soon.”

Declining crude oil spilled over into vegetable oils. Chicago soyoil lost nearly two U.S. cents per pound, while European rapeseed and Malaysian palm oil were also down.

The Canadian Grain Commission reported 284,100 tonnes of canola were exported during the week ended April 12, slightly above the 283,500 tonnes from the previous week. So far this marketing year, 5.874 million tonnes of canola were exported, compared to 7.382 million at this point last year.

The Canadian dollar gained one-quarter of a U.S. cent compared to Thursday’s close.

Nearly 33,100 contracts were traded. Prices in Canadian dollars per metric ton as of 8:42 CDT:

May  699.30  dn 11.10

Jul  713.60  dn 10.70

Nov  713.90  dn  8.90

Jan  720.90  dn  8.90

To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/Stay informed with our daily market videos. Each video quickly covers key futures moves, price trends, and market signals that matter to Canadian farmers. Get clear, timely insights in just a few minutes. Bookmark https://www.producer.com/markets-futures-prices/videos

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Talks between the United States and Iran could resume this weekend, a top Pakistani mediator said. Iran is reportedly willing to extend the current ceasefire past its April 22 expiry. The U.S. said it would likely resume its attacks should a deal not be reached. Reports also said that the U.S. could be preparing for military action in Cuba.

The U.S. Department of Agriculture reported export sales for the week ended April 9 included 247,900 tonnes of 2025-26 soybeans, a marketing-year low, and near the bottom end of pre-report trade estimates. Soymeal export sales came to 254,200 tonnes of old crop, which were slightly below market predictions. Those for soyoil were 1,100 tonnes and towards the low end of guesses.

Consultancy Abiove maintained its call on Brazil’s 2025-26 soybean harvest at 177.85 million tonnes and raised the country’s soybean exports by 2.1 million tonnes at 113.6 million.

The USDA attaché in Jakarta projected Indonesian palm oil production for 2026-27 at 48 million tonnes, up from 46.7 million the previous year. Indonesia is the world’s largest palm oil producer.

Paraguay’s soybean output for 2026-27 is to fall to 11.1 million tonnes, down one million tonnes from 2025-26, according to the USDA attaché in Buenos Aires. Paraguay is South America’s third largest soybean grower.

CORN futures slipped on Thursday, correcting from yesterday’s gains.

Rain is forecasted for the U.S. Eastern Corn Belt, which might create a minor delay to spring planting.

U.S. corn export sales were compromised of 1.4 million tonnes of old crop, which were toward the high end of trade forecasts, along with 56,500 tonnes of new crop.

The APEC Climate Center said there are 99 per cent chances for an El Nino in the May-July as well as the August-October time periods.

WHEAT futures continued stronger Thursday, on dryness concern across much of the U.S. Southern Plains.

Wheat export sales of 100,300 tonnes of old crop were short of trade expectations, but those for new crop came to 131,000 tonnes.

Algeria bought more than 400,000 tonnes of durum and Taiwan issued a tender for almost 106,000 tonnes of U.S. wheat.

The German Farmers Association reduced its estimate of the country’s 2026-27 wheat crop by 3.3 per cent, which would bring it to 22.38 million tonnes.

The post U.S. Grain/Oilseed Review: Wheat stronger as soybeans, corn slip appeared first on Country Guide.

Glacier FarmMedia – Intercontinental Exchange canola futures closed stronger on Thursday, guided by gains in Chicago soyoil, MATIF rapeseed and crude oil.

Malaysian palm oil finished relatively steady and declines in Chicago soybeans and soymeal tempered canola’s upside.

Jamie Wilton, a trader with R.J. O’Brien & Associates in Winnipeg, said the rolling out of the May contract also influenced canola.

While the July canola contract remained below its 20-day average, it climbed further above its 50-day average.

Canola crush margins were also on the rise, with the July position adding about C$13 at more than C$323 per tonne above the futures.

Agriculture and Agri-Food Canada is scheduled to issue its next supply and demand estimates. The trade will be looking for any notable changes from the March report.

The Canadian dollar was higher on Thursday afternoon, with the loonie reaching 72.99 U.S. cents, compared to Wednesday’s close of 72.75.

There were 82,503 canola contracts traded on Thursday, compared to 80,679 on Wednesday. Spreading accounted for 62,708 contracts traded.

Prices are in Canadian dollars per metric tonne:

                        Price     Change

Canola          May     710.40    up  4.50

                Jul     724.30    up  5.70

                Nov     722.80    up  3.90

                Jan     729.80    up  3.20

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Glacier FarmMedia – Canola futures on the Intercontinental Exchange were stronger mid-session Thursday, getting spillover from gains in Chicago soyoil and crude oil.

“There’s a strong number for beanoil off of the crush report,” said Jamie Wilton, broker for R.J. O’Brien & Associates in Winnipeg.

Although, the March soybean crush report in the United States came in slightly below market expectations, it was higher than the previous March. Wilton also pointed to the drop in U.S. soyoil stocks.

As well, Wilton said there was a “pretty good liquidation of the May (canola) contract” as traders move into the July contract.

He added market concerns over any talks between the U.S. and Iran were supportive of crude oil.

Besides Chicago soyoil, there were upticks in the soybeans while soymeal stepped back. Strong increases in MATIF rapeseed found their way into canola, while Malaysian palm oil was relatively steady.

The Canadian dollar was higher by late Thursday morning with the loonie at 72.95 U.S. cents, compared to Wednesday’s close of 72.75.

Approximately 64,750 canola contracts were traded as of 10:56 a.m. CDT, with prices in Canadian dollars per metric tonne:

                        Price     Change

Canola          May     714.50    up  8.60

                Jul     728.30    up  9.70

                Nov     726.00    up  7.10

                Jan     733.10    up  6.50

To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/.

Stay informed with our daily market videos. Each video quickly covers key futures moves, price trends, and market signals that matter to Canadian farmers. Get clear, timely insights in just a few minutes. Bookmark https://www.producer.com/markets-futures-prices/videos.

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Chicago soyoil and European rapeseed made gains, while Malaysian palm oil was down. Crude oil advanced despite speculation the United States and Iran will resume negotiations to end the war in Iran sometime this week.

The Canadian dollar was up one-tenth of a U.S. cent compared to Wednesday’s close.

Nearly 30,600 contracts were traded. Prices in Canadian dollars per metric ton as of 8:38 CDT:

May  711.20  up  5.30

Jul  724.90  up  6.30

Nov  724.30  up  5.40

Jan  731.30  up  4.70

To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/

Stay informed with our daily market videos. Each video quickly covers key futures moves, price trends, and market signals that matter to Canadian farmers. Get clear, timely insights in just a few minutes. Bookmark https://www.producer.com/markets-futures-prices/videos

The post ICE canola adding onto prices appeared first on Country Guide.

There were 226.16 million bushels of soybeans crushed in the United States during March, according to the National Oilseed Processors Association. Although that was short of the average trade guess of nearly 230 million bushels, it was 16.25 per cent more than the previous March.

The U.S. Department of Agriculture revised its number for  soybean export inspections to 730,000 tonnes from 810,000 in Monday’s report.

Crop consultant Michael Cordonnier left his estimate on the 2025-26 Brazil soybean harvest at 179 million tonnes and the Argentine crop at 48 million tonnes.

Malaysian palm oil exports for April 1-15 were 601,401 tonnes compared to 609,868 from March 1-15.

France said its planted rapeseed area is to increase nine per cent for 2026-27 at 1.38 million hectares.

CORN futures were higher on Wednesday, pushed up by the spillover from soy.

The U.S. Energy Information Administration reported ethanol production for the week ended April 10 averaged 1.12 million barrels per day, nudging up by 4,000 BPD. Ethanol stocks increased by 646,000 barrels at 26.7 million.

Reports said the U.S. Department of Justice is continuing its investigation into alleged fertilizer price gouging.

The USDA adjusted recent corn export inspections to 1.61 million tonnes from 1.78 million.

Cordonnier added 2 million tonnes to his call on Brazil’s total 2025-26 corn crop, now at 134 million tonnes.

WHEAT futures were slightly higher on Wednesday, cooling off from a strong rally.

While the U.S. Southern Plains continued to contend with drought conditions, the Northern Plains could see some planting delays due to a snowstorm this week.

France cut 800,000 tonnes from its soft wheat ending stocks, now at 3.31 million tonnes.

The post U.S. Grain/Oilseed Review: Increases in soy, corn, wheat appeared first on Country Guide.

Glacier FarmMedia – Intercontinental Exchange canola futures posted modest gains on Wednesday, despite ample spillover from a strong Chicago soy complex. The rolling out of the nearby May contract was also a major feature in today’s activity.

Crude oil was now virtually unchanged, but it had been higher for most of Wednesday’s session as tensions increased in the Middle East war. That earlier support pushed up MATIF rapeseed, but Malaysian palm oil remained on the downside.

A trader said 2025-26 Canadian canola ending stocks are likely to remain very large. The trader noted that while canola exports to China have increased, those to other major foreign buyers have decreased.

The July canola contract held above its 50-day moving average but still lagged behind its 20-day average.

The Canadian dollar pushed higher on Wednesday afternoon, with the loonie at 72.83 U.S. cents, compared to Tuesday’s close of 72.69.

There were 80,679 canola contracts traded on Wednesday, compared to 67,649 on Tuesday. Spreading accounted for 58,584 contracts traded.

Prices are in Canadian dollars per metric tonne:

                        Price     Change

Canola          May     705.90    up  1.80

                Jul     718.60    up  2.00

                Nov     718.90    up  1.90

                Jan     726.60    up  2.10

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