By Glen Hallick
Glacier FarmMedia – Canola futures on the Intercontinental Exchange were higher by mid-session Wednesday, in what a trader called “a bit of wind in the sails from soyoil.”
The trader said the “updraft” in crude oil was lending support to the vegetable oils. Along with gains in Chicago soy, there were increases in MATIF rapeseed, but losses in Malaysian palm oil.
The trader also warned that 2025/26 canola ending stocks very likely to remain large, despite increased business to China. He said exports to other buyers of Canadian canola have waned in recent months.
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Glacier FarmMedia – Canola futures on the Intercontinental Exchange were slightly higher on Wednesday morning, while crude oil prices were…
Wednesday’s increases pushed the July canola contract, now firmly the top month, above its 50-day moving average, but still lagged behind the 20-day average.
The Canadian dollar bumped up by late Wednesday morning with the loonie at 72.79 U.S. cents, compared to Tuesday’s close of 72.69.
Approximately 47,250 canola contracts were traded as of 10:33 a.m. CDT, with prices in Canadian dollars per metric tonne:
Canola May 707.00 up 2.90
Jul 720.20 up 3.60
Nov 720.90 up 3.90
Jan 728.60 up 4.10
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/.
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