By Glen Hallick
Glacier FarmMedia – Intercontinental Exchange canola futures closed stronger on Wednesday, riding the spillover from sharp increases in Chicago soybeans and soyoil.
There was additional support from gains in MATIF rapeseed and Malaysian palm oil.
Also, canola continued to benefit from Friday’s Canada-China trade deal and news that China bought 60,000 tonnes of Canadian canola for March delivery.
An analyst said there are thoughts within the trade of China importing about two million tonnes of Canadian canola during the remainder of the 2025/26. Then China is expected to import between four million and 4.5 million tonnes in 2026/27.
Read Also
ICE Canola Midday: Good spillover support from soybeans, soyoil
By Glen Hallick Glacier FarmMedia – Canola futures on the Intercontinental Exchange were higher on late Wednesday morning, gleaning spillover…
The analyst added that farmers have been reluctant sellers, as they wait for better prices.
The Canadian dollar was virtually unchanged on Wednesday afternoon, with the loonie at 72.29 U.S. cents.
There were 53,811 contracts traded on Wednesday, compared to 54,554 on Tuesday. Spreading accounted for 44,246 contracts traded.
Prices are in Canadian dollars per metric tonne:
Price Change
Canola Mar 646.50 up 10.30
May 657.50 up 9.90
Jul 663.50 up 9.70
Nov 659.20 up 7.90
SOYBEAN futures at the Chicago Board of Trade were stronger on Wednesday, on United States/China news.
Top U.S. trade officials could meet with their Chinese counterparts before President Donald Trump meets with President Xi Jinping in April.
While China reportedly bought the targeted 12 million tonnes of U.S. soybeans, the Department of Agriculture said about five per cent of it has been shipped to China.
Conab reported that 2.3 per cent of Brazil’s soybeans have been planted.
Oil World said Malaysia’s palm oil exports in 2024/25 came to 15.26 million tonnes down from 16.90 million the previous year.
CORN futures dipped on Wednesday, despite fresh sales.
The USDA announced two private sales of 2025/26 corn, with 150,000 tonnes to Colombia and 195,000 tonnes to unknown destinations.
Taiwan bought 65,000 tonnes of U.S. corn in an international tender.
Conab reported Brazil’s first corn crop was 4.4 per cent harvested and the second corn crop was 0.8 per cent planted.
China said its December corn imports of 800,610 tonnes were up 44.2 per cent from November. More than 73 per cent of the corn came from Brazil and none from the U.S. That marked the sixth-straight month of China not importing U.S. corn.
WHEAT futures were mixed on Wednesday, with modest gains in Minneapolis as Chicago and Kansas City stepped back.
Although temperatures across the U.S. Southern Plains are to be below normal, it’s believed the coming cold snap likely won’t be long enough to cause significant winterkill.
Ukraine said its wheat exports for the first half of January were lower than expected due to Russian attacks on its ports.
China’s December wheat imports of 3.89 million tonnes plummeted 65 per cent from a year ago.
In international purchases, Alegria is believed to have acquired up to 720,000 tonnes of soft wheat and Jordan issued two tenders for a combined 180,000 tonnes of wheat.
