Glacier FarmMedia – Canola futures on the Intercontinental Exchange were slightly in negative territory in the middle of trading on Wednesday morning, pulled lower by losses in Chicago soyoil.
Meanwhile, gains in European rapeseed and Malaysian palm oil were supportive. Crude oil was also higher as the trade weighed the war in Ukraine, United States stockpiles and newly implemented 50 per cent tariffs by the U.S. onto Indian imports.
Statistics Canada will release its satellite/model-based crop production report on Thursday. Last week, Agriculture and Agri-Food Canada raised its own 2025-26 canola production estimate by 2.3 million tonnes at 20.1 million.
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WINNIPEG -– Canola futures on the Intercontinental Exchange ended the session lower on Wednesday, following the lead of Chicago soyoil…
An analyst said canola prices are continuing a downward trend, testing values in the vicinity of C$640 per tonne in the absence of bullish factors. He predicted StatCan’s production estimate to be 20.2 million tonnes, but thinks the actual number is around 20.8 million.
Much of the Prairies will see temperatures around 30 degrees Celsius throughout the week. While southern Manitoba could see rain and thunderstorms tonight, other areas will be dry.
The Canadian dollar was up less than one-tenth of a U.S. cent compared to Tuesday’s close.
About 15,500 canola contracts have traded at 10:18 CDT. Prices in Canadian dollars per metric tonne:
Price Change
Nov 652.90 dn 1.90
Jan 665.10 dn 1.80
Mar 674.90 dn 1.50
May 683.20 dn 1.70
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
