By Glen Hallick
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were on the rise late Thursday morning on what a trader called a “nothing day” as prices had been shifting to either side of unchanged.
The trader said canola had a bit of a run-up this week and the market had now turned quiet.
There’s pressure on canola coming from losses in the Chicago soy complex, but the Canadian oilseed was underpinned by gains in MATIF rapeseed and Malaysian palm oil. Modest declines in crude oil weighed on the vegetable oils.
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Trade expectations have suggested a canola harvest greater than the 20.03 million tonnes estimated by Statistics Canada, basing that on numerous reports of good yields. Some participants said production could reach or exceed 21 million tonnes when StatCan issues its next production report in early December.
Canola exports have sagged so far in 2025/26 with no buying by China. Last week, the Canadian Grain Commission reported cumulative canola exports are down by about one million tonnes from 2024/25, but domestic use has risen by roughly the same amount. The CGC is expected to release its next grain handling report Thursday afternoon.
The Canadian dollar fell back by mid-session Thursday, with the loonie dropping to 71.39 U.S. cents, compared to Wednesday’s close of 71.67.
Approximately 29,600 canola contracts were traded as of 10:18 am CDT, with prices in Canadian dollars per metric tonne:
Canola Nov 619.20 up 2.20
Jan 633.00 up 2.00
Mar 644.10 up 1.70
May 653.80 up 1.30
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/