By Glen Hallick
Glacier FarmMedia – Canola futures on the Intercontinental Exchange were higher on late Wednesday morning, gleaning spillover from upswings in Chicago soybeans and soyoil.
Additional support came from increases in MATIF rapeseed and Malaysian palm oil. Meanwhile, crude oil was relatively steady, providing little direction to the vegetable oils.
The Canada-China trade deal from late last week continued to underpin the canola market, with the prospect of canola exports to China starting in the coming weeks.
An analyst questioned how much canola China will acquire during the balance of the 2025/26 marketing year. The analyst wondered if China will ramp up its imports to match those from 2024/25 or if it will resume acquiring its usual amounts until July 31.
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By Glen Hallick Glacier FarmMedia – Intercontinental Exchange canola futures closed stronger on Wednesday, riding the spillover from sharp increases…
The canola market was still contending with a record harvest and lacklustre exports so far.
With today’s increases, the March canola contract pushed above its 100-day moving average, but remained behind its 200-day average.
The Canadian dollar bumped up on Wednesday, with the loonie at 72.40 U.S. cents compared to Tuesday’s close of 72.31.
Approximately 43,750 canola contracts were traded as of 10:51 am CST, with prices in Canadian dollars per metric tonne:
Canola Mar 644.30 up 8.10
May 655.70 up 8.10
Jul 662.50 up 7.70
Nov 658.20 up 6.90
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/.
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