By Glen Hallick
Glacier Farm Media | MarketsFarm – Intercontinental Exchange canola futures remained lower late Monday morning, as China’s recent tariffs on Canadian canola seed continued to weigh on values.
However, an analyst said that Canada will likely reduce its canola exports for 2025/26 anyway, following its excellent 2024/25 program. Also, the analyst noted that while canola is down about C$30 to C$40 per tonne, the situation shouldn’t be a disaster in the long run.
He said the Prairies are to turn drier for the balance of August, but a large chunk of the region is expected to see thunderstorms today.
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ICE canola lower out of the weekend
Canola futures on the Intercontinental Exchange were slightly lower on Monday morning amidst mixed sentiment in comparable oils. Chicago soyoil…
Support for canola is coming from increases in Chicago soybeans and soyoil, as well as European rapeseed and Malaysian palm oil. Crude oil is holding steady, offering little direction to the vegetable oils.
The Canadian dollar is down a pinch lower at mid-session Monday, with the loonie dipping 72.33 U.S. cents compared to Friday’s close of 72.43.
Approximately 15,200 canola contracts were traded as of 10:32 am CDT, with prices in Canadian dollars per metric tonne:
Price Change Canola Nov 657.60 dn 3.30 Jan 670.10 dn 2.40 Mar 681.10 dn 1.70 May 690.70 dn 1.00
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
