Losses for soybeans, corn, wheat continue
By Glen Hallick, MarketsFarm
Glacier FarmMedia MarketsFarm – Intercontinental Exchange canola futures were unable to retain their gains on Thursday, due to declines in the Chicago soy complex.
Additional pressure on canola came from losses in Malaysian palm oil, while decreases in crude oil weighed on vegetable oil values.
That pulled canola further below its 20-day moving average.
A trader said canola had been riding support from European rapeseed.
The trader noted the slower than normal pace of the Prairie harvest which is keeping harvest pressure away from canola prices.
Read Also
ICE Canola Midday: Taking its cue from European rapeseed
By Glen Hallick Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were climbing higher late Thursday morning,…
Saskatchewan reported its overall harvest reached 53 per cent complete with the canola at 21 per cent finished.
The Canadian dollar pulled back on Thursday afternoon with the loonie falling to 72.47 U.S. cents, compared to Wednesday’s close of 72.67.
There were 43,886 contracts traded on Thursday, compared to 44,168 on Wednesday. Spreading accounted for 27,992 contracts traded.
Prices are in Canadian dollars per metric tonne:
Price Change
Canola Nov 623.90 dn 4.20
Jan 636.40 dn 3.90
Mar 647.60 dn 4.10
May 657.40 dn 4.20
SOYBEAN futures at the Chicago Board of Trade were lower on Thursday, pulled down by losses in soyoil.
The United States Department of Agriculture reported export sales for the week ended Sept. 11 included 923,000 tonnes of 2025/26 soybeans plus 2,300 tonnes of new crop. The former fell within trade expectations of 400,000 to 1.50 million tonnes. Also, there were export sales of 31,200 tonnes of soymeal and 22,400 of soyoil, with both meeting trade projections. China continued to be notably absent from the report.
Rain is to continue falling through to early next week over an area that includes the U.S. Midwest, Plains and Delta regions.
Conab forecast the 2025/26 Brazilian soybean crop at 177.67 million tonnes compared to the 2024/25 harvest of 171.47 million.
The International Grains Council issued its September supply and demand report with slight changes to soybeans, with global production for 2025/26 dipping one million tonnes from the August report at 429 million and ending stocks down two million tonnes at 83 million.
CORN futures were lower on Thursday, due to declines in crude oil and soy.
The USDA said current crop corn sales were more than 1.23 million tonnes and within market predictions.
The department announced a private sale of 110,000 tonnes of 2025/26 crop corn to Mexico.
Conab estimated the total 2025/26 Brazilian corn crop at 138.28 million tonnes versus 139.70 million the previous year.
The IGC trimmed world corn output for 2025/26 by two million tonnes to a shade below 1.30 billion while ending stocks remained at 294 million tonnes.
WHEAT futures were lower on Thursday, in sympathy with soybeans and corn.
U.S. wheat export sales topped 377,500 tonnes of old crop, which were close to the low end of market expectations. There were also sales of 10,000 tonnes of new crop.
Russia said its total grain harvest reached 84 per cent of the expected 135 million tonnes. Of that, 84 million tonnes has been wheat. IKAR and SovEcon estimated wheat production to wind up at around 87 million tonnes.
The IGC added eight million tonnes to its call on global wheat production for 2025/26 at 819 million tonnes and raised the carryover by six million tonnes at 270 million.
