Glacier FarmMedia – Canola futures on the Intercontinental Exchange were rising in the middle of Tuesday trading, lifted by comparable oils and speculation over Canadian Prime Minister Mark Carney’s visit to China.
Chicago soyoil was up one United States cent per pound, while European rapeseed was higher and Malaysian palm oil was lower. Crude oil nearly gained US$2 per barrel after drones struck oil tankers at a Russian terminal.
One analyst doubted that China’s tariffs on Canadian canola will change after Carney’s visit to China, but there remains a possibility they could be reduced. Another analyst said Canadian canola exports are not sufficient to maintain the oilseed’s rally on the markets.
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Glacier FarmMedia -– Canola futures on the Intercontinental Exchange rose on Tuesday ahead of Canadian Prime Minister Mark Carney’s visit…
The U.S. Department of Agriculture estimated the Canadian canola carryout for 2025-26 at 3.71 million tonnes in its world oilseed report on Monday, 760,000 more than Agriculture and Agri-Food Canada’s latest estimate. One of the analysts said he expects the actual number to be more than four million tonnes.
The Canadian dollar was down one-tenth of a U.S. cent compared to Monday’s close.
About 45,500 canola contracts have traded at 10:30 CST. Prices in Canadian dollars per metric tonne:
Price Change
Mar 632.00 up 11.20
May 642.10 up 11.30
Jul 649.80 up 11.80
Nov 647.20 up 11.20
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