By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were pulling back mid-morning Friday, in what an analyst called “another day of non-descript trade.”
The analyst said the recent rally in canola has turned into sideways trading due to a lack of fresh news, citing “no appetite to go higher.”
There’s good news in canola exports as they hit a marketing-year high for the week ended Nov. 16. The Canadian Grain Commission reported a 57.4 per cent increase to 284,6000 tonnes shipped out.
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“We need a few weeks like that,” the analyst said.
However, the cumulative total for 2025/26 of 1.83 million tonnes remained far behind the 3.56 million this time last year.
Canola was being pressured by losses in the Chicago soy complex, Malaysian palm oil and MATIF rapeseed. Declines in crude oil weighed on the vegetable oils.
Agriculture and Agri-Food Canada is set to release its monthly supply and demand report on Monday. AAFC said it delayed its report because the United States Department of Agriculture postponed its S/D estimates due to the federal government shutdown.
Then on Dec. 4, Statistics Canada will issue its production report. Many in the trade believe this year’s canola harvest will exceed the 20.03 million tonnes that StatCan estimated in September.
The Canadian dollar was weaker at mid-session Friday, with the loonie at 70.78 U.S. cents, compared to Thursday’s close of 71.02.
Approximately 23,250 canola contracts were traded as of 10:19 am CST, with prices in Canadian dollars per metric tonne:
Canola Jan 643.00 dn 7.20
Mar 655.80 dn 7.20
May 666.80 dn 6.20
Jul 672.00 dn 6.10
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
