By Glen Hallick
Glacier FarmMedia – Canola futures on the Intercontinental Exchange were mixed on Thursday, struggling to recoup and maintain earlier gains.
An analyst said there was, “not too much at play” in the markets on Thursday.
An about-face in Chicago soyoil took away a lot of canola’s strength, although soybeans and soymeal remained higher. Upticks in MATIF rapeseed and Malaysian palm tried to temper the losses in canola. Declines in crude oil weighed on the vegetable oils.
Agriculture and Agri-Food Canada released its January supply and demand estimates, which included their initial projections for 2026/27. AAFC called for canola production to peel back to 19.24 million tonnes from the record 21.80 million this year, but with ending stocks falling to 1.60 million from 2.75 million expected in 2025/26.
Read Also
ICE canola correcting lower Thursday morning
Glacier FarmMedia — ICE canola futures were weaker Thursday morning, taking back some of Wednesday’s gains. Chart-based positioning was a…
While the Canada-China deal reached last week continued to underpin canola, that massive harvest and reduced exports still pressured the oilseed’s prices.
The March canola held above most of its major moving averages, only trailing its 200-day average.
The Canadian dollar edged up on Thursday, with the loonie at 72.46 U.S. cents compared to Wednesday’s close of 72.39.
Approximately 29,150 canola contracts were traded as of 10:22 am CST, with prices in Canadian dollars per metric tonne:
Canola Mar 646.80 up 0.30
May 657.60 up 0.10
Jul 664.50 unchanged
Nov 656.40 dn 2.80
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.
