By Phil Franz-Warkentin
Glacier FarmMedia — The ICE Futures canola market was posting small gains at midday Monday, as the market consolidated above the five-month lows hit last week.
Outside markets were providing little support, with the Chicago soy complex narrowly mixed and losses in European rapeseed. Malaysian palm oil moved higher overnight but was backing away from its earlier advances.
Supports to biofuel production announced by the Canadian government announced Friday continued to underpin the market. However, the Canola Council of Canada and Canadian Canola Growers Association were disappointed in the support package, saying in a news release that the measures don’t go far enough to support the industry in the face of the ongoing trade dispute with China.
Statistics Canada will release ending stocks data on Tuesday, showing canola supplies in the country as of July 31, 2025.
An estimated 21,400 canola contracts traded as of 10:45 CDT.
Prices in Canadian dollars per metric tonne at 10:45 CDT:
Canola Nov 619.50 up 2.70
Jan 630.80 up 2.60
Mar 641.40 up 2.20
May 650.90 up 2.00
