Glacier FarmMedia — ICE Futures canola contracts were weaker at midday Tuesday, hitting their lowest levels since March 2025.
- The move below C$600 per tonne in the nearby January contract was bearish from a technical standpoint. An analyst expected the March contract was also headed towards that level, as the futures converge ahead of the expiry of the front month.
- Sharp losses in crude oil spilled into the world vegetable oil markets, with Chicago soyoil, European rapeseed and Malaysian palm oil all lower on the day.
- Large supplies and a lack of export demand from China continued to overhang the canola market.
- The Canadian dollar was slightly firmer relative to its United States counterpart at midday.
- Scale down domestic crusher demand and end-user bargain hunting provided some support.
- An estimated 32,100 canola contracts traded as of 10:29 CST.
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Prices in Canadian dollars per metric tonne at 10:29 CST:
Canola Jan 597.10 dn 4.80
Mar 609.60 dn 5.70
May 621.30 dn 6.00
Jul 629.50 dn 6.10
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