By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were stronger on late Thursday morning, as they continued to take back the losses they incurred from China’s tariff on canola seed.
Support for canola was coming from sharp gains in Chicago soyoil and soybeans, as well as from upticks in Malaysian palm oil and European rapeseed. Modest increases in crude oil spilled over in the vegetable oils.
Meanwhile, Agriculture and Agri-Food Canada released its August supply and demand report on Wednesday. At 20.1 million tonnes, canola production for 2025/26 increased 12.9 per cent from July’s estimate. Also, ending stocks were doubled to 2.2 million tonnes.
Read Also
North American Grain and Oilseed Review: Canola swings higher with soy
By Glen Hallick, MarketsFarm Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures were stronger on Thursday, gleaning ample spillover…
“That’s quite the adjustment for sure,” an analyst said, noting there was no effect on canola futures.
The analyst suggested AAFC may have raised their canola numbers to about where the trade believes they should be.
Saskatchewan Premier Scott Moe and federal Agriculture Minister Heath MacDonald are set to meet today in Saskatoon to discuss those tariffs. The analyst said he hopes there will be some sort of federal assistance program to help canola growers.
The Canadian dollar was lower at mid-session Thursday, with the loonie at 71.92 U.S. cents compared to Wednesday’s close of 72.12.
Approximately 19,750 canola contracts were traded as of 10:26 am CDT, with prices in Canadian dollars per metric tonne:
Price Change Canola Nov 660.90 up 11.80 Jan 671.40 up 10.80 Mar 681.00 up 9.90 May 689.70 up 9.10
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
