Glacier FarmMedia — ICE canola futures fell to their lowest levels in nine months during the week ended Dec. 17, with little supportive news to underpin the market.
The front-month January contract slipped below the psychological C$600 per tonne level during the week, while the more-active March futures were nearing that mark.
“There’s certainly nothing positive going on with canola right now,” said analyst Lawrence Klusa of Seges Markets in Winnipeg.
He said the lack of export demand from China amid the ongoing trade dispute made it hard to take prices higher, with the likelihood of a large carryout overhanging the market.
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Canada grew 21.8 million tonnes of canola in 2025/26, according to Statistics Canada data. That marks a new record, but crop-year-to-date exports are well off what moved the same time a year ago.
With a stocks-to-use ratio around 22 per cent, Klusa said that would be near the high end of the past 15 years.
“We need to do some work on the export side,” said Klusa.
Without fresh export demand, canola could find direction from activity in the United States soybean market. However, soybeans have also trended lower.
Given that bearish outlook, Klusa recommended farmers with canola to sell look for any sales opportunities they can find. “When prices jump up, take advantage of them.”
