Glacier FarmMedia — ICE canola futures were weaker Thursday morning, taking back some of Wednesday’s gains.
- Chart-based positioning was a feature, as canola was starting to look overbought by some technical indicators.
- Losses in Chicago soyoil also weighed on values, although soybeans were higher.
- European rapeseed and Malaysian palm oil were narrowly mixed on the day, providing little direction.
- Agriculture and Agri-Food Canada released their first supply/demand estimates for the 2026/27 marketing year late Wednesday. Planted canola area is forecast to be up 1.9 per cent on the year, at 20.25 million acres, but production is forecast to decline to 19.200 million tonnes from the record 21.804 million tonnes grown in 2025/26 given a return to average yields.
- AAFC lowered their estimate for 2025/26 canola ending stocks by 200,000 tonnes, to 2.750 million tonnes, due to an upward revision to anticipated exports.
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By Glen Hallick Glacier FarmMedia – Intercontinental Exchange canola futures were mixed on Thursday, with small increases in the old…
- About 17,800 canola contracts had traded as of 8:56 CST.
Prices in Canadian dollars per metric tonne at 8:56 CST:
Canola Mar 645.60 dn 0.90
May 656.10 dn 1.40
Jul 662.80 dn 1.70
Nov 656.70 dn 2.50
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