Glacier FarmMedia — ICE canola futures were narrowly mixed Wednesday morning, seeing some consolidation after climbing higher earlier in the week.
- Energy markets were also stabilizing on Wednesday after their initial bullish reaction to the escalating conflict in the Middle East.
- Chicago soyoil, European rapeseed and Malaysian palm oil futures were mostly lower Wednesday morning, accounting for some spillover selling pressure in canola.
- The May canola contract was holding above C$700 per tonne, providing support from a technical standpoint.
- Optimism over increased Chinese buying interest remained supportive, after the country lowered import tariffs on Canadian canola at the start of the month.
- Statistics Canada will release planting intentions estimates on Thursday, March 5. General expectations are for an increase in canola area from 2025.
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ICE Canola Midday: Hard to get a bead on what’s happening – trader
By Glen Hallick Glacier FarmMedia – Canola futures on the Intercontinental Exchange were narrowly mixed Wednesday morning in choppy trading….
- About 15,900 canola contracts had traded as of 8:36 CST.
Prices in Canadian dollars per metric tonne at 8:36 CST:
Canola May 705.90 dn 0.70
Jul 716.60 dn 0.60
Nov 708.10 up 0.70
Jan 714.60 up 0.70
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