By Glen Hallick
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange saw overnight gains fade into small losses on Tuesday morning, pulled down by weaker vegetable oils.
There were losses in Chicago soyoil, Malaysian palm oil and European rapeseed, as declines in crude oil weighed on the veg oils. Canola garnered some support from upticks in Chicago soybeans and soymeal.
The market contended with tight old crop stocks just as the Prairie harvest begins to pick up steam with favourable weather conditions.
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ICE Midday: Canola pressured by weaker oils
Glacier FarmMedia – Canola futures on the Intercontinental Exchange were under pressure from weakness in comparable oils. Chicago soyoil lost…
Statistics Canada is set to release its first of two satellite/model-based crop production reports on Thursday. Last week, Agriculture and Agri-Food Canada pegged 2025/26 canola output at 20.10 million tonnes, which would mark the third largest crop on record.
The Canadian dollar dipped on Tuesday morning, with the loonie at 72.22 U.S. cents compared to Monday’s close of 72.28.
Approximately 11,300 contracts were traded by 8:37 CDT and prices in Canadian dollars per metric tonne were:
Price Change Canola Nov 657.60 dn 1.80 Jan 670.30 dn 1.20 Mar 680.50 dn 1.10 May 689.00 dn 1.50
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
