By Glen Hallick
Glacier FarmMedia – Intercontinental Exchange canola futures posted modest gains on Wednesday, despite ample spillover from a strong Chicago soy complex. The rolling out of the nearby May contract was also a major feature in today’s activity.
Crude oil was now virtually unchanged, but it had been higher for most of Wednesday’s session as tensions increased in the Middle East war. That earlier support pushed up MATIF rapeseed, but Malaysian palm oil remained on the downside.
A trader said 2025-26 Canadian canola ending stocks are likely to remain very large. The trader noted that while canola exports to China have increased, those to other major foreign buyers have decreased.
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The July canola contract held above its 50-day moving average but still lagged behind its 20-day average.
The Canadian dollar pushed higher on Wednesday afternoon, with the loonie at 72.83 U.S. cents, compared to Tuesday’s close of 72.69.
There were 80,679 canola contracts traded on Wednesday, compared to 67,649 on Tuesday. Spreading accounted for 58,584 contracts traded.
Prices are in Canadian dollars per metric tonne:
Price Change
Canola May 705.90 up 1.80
Jul 718.60 up 2.00
Nov 718.90 up 1.90
Jan 726.60 up 2.10
