Glacier FarmMedia – Canola futures on the Intercontinental Exchange returned to the red on Wednesday, receiving little support from comparable oils.
Chicago soyoil, European rapeseed and Malaysian palm oil were down. However, crude oil made gains due to inflamed tensions in Iran.
Canadian Prime Minister Mark Carney landed in China earlier today for a three-day visit where trade matters will be discussed. Many speculate the meeting could result in the reduction or elimination of China’s tariffs on Canadian canola, but one analyst said he doesn’t anticipate such progress.
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ICE Midday: Canola takes a step back
Glacier FarmMedia – Canola futures on the Intercontinental Exchange were slightly lower in the middle of Wednesday trading amidst a…
At mid-afternoon, the Canadian dollar was up less than one-tenth of a United States cent compared to Tuesday’s close.
There were 60,035 canola contracts traded on Wednesday, compared to Tuesday when 70,741 contracts changed hands. Spreading accounted for 33,210 of the contracts traded.
SOYBEANS showed modest gains at the Chicago Board of Trade for the first time in three sessions on Wednesday.
The United States Department of Agriculture reported a private export sale for 334,000 tonnes of 2025/26 soybeans to China this morning.
December Chinese soybean imports totalled 8.04 million tonnes, up 1.3 per cent from the year before.
The U.S. National Oilseed Processors Association will release its December soybean crush numbers on Thursday, with analysts expecting a total of 224.8 million bushels crushed.
ANEC projected January Brazilian soybean exports at 3.73 million tonnes, up 1.33 million from its previous estimate.
Southern Brazil and northern Argentina will see below-normal precipitation starting next week.
The March CORN contract had its first gain in three sessions and hit a high of US$4.25 per bushel before closing below the mark.
South Korea issued tenders totalling 402,000 tonnes of corn Tuesday night, with at least 136,000 tonnes to come from the U.S., as confirmed by the USDA.
January Brazilian corn exports were estimated by ANEC at 3.27 million tonnes, up 420,000 from their previous estimate.
The U.S. Energy Information Administration reported average daily ethanol production for the week ended Jan. 9 at a record 1.196 million barrels per day, up 98,000 from the previous week. Ethanol stocks grew 821,000 barrels at 24.473 million.
U.S. WHEAT prices showed gains ranging from a half to 2.75 U.S. cents per bushel on Wednesday.
European Commission data showed wheat exports for 2025-26 at 11.6 million tonnes as of Jan. 11, down 200,000 tonnes from one year ago.
FranceAgriMer estimated the French soft wheat carryout at 2.8 million tonnes, up a little bit from last month’s estimate.
