By Glen Hallick
Glacier FarmMedia – Canola futures on the Intercontinental Exchange were narrowly mixed Wednesday morning in choppy trading.
A trader said it’s very hard to get a bead on what’s happening with canola and other commodities as things change “minute to minute and hour by hour” due to the war in the Middle East.
The trader also said canola will get support from renewed Canadian canola exports to China as well as the forthcoming decision on the United States biodiesel mandate. He said the Trump administration has yet to make a final decision on the amounts and types of feedstock that will be used for biodiesel production.
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Declines in Malaysian palm oil and MATIF rapeseed on Wednesday pressured canola values, as were losses in Chicago soybeans and soymeal. Small upticks in soyoil lent some support to canola.
Crude oil was stepping back, which took away some of the strength in the vegetable oils.
Statistics Canada is set to release its planted area projections on Thursday. The trade is looking for an increase in canola acres from the 21.62 million planted in 2025/26.
The Canadian dollar bumped up by late Wednesday morning with the loonie at 73.18 U.S. cents, compared to Tuesday’s close of 73.08
Approximately 36,600 canola contracts were traded as of 10:54 a.m. CST, with prices in Canadian dollars per metric tonne:
Canola May 706.90 up 0.30
Jul 717.30 up 0.10
Nov 708.90 up 1.50
Jan 714.90 up 1.00
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/.
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