Glacier FarmMedia — The ICE Futures canola market started the New Year under pressure but managed to uncover support to settle with small gains during the first trading session of 2026.
- The March contract fell below C$600 per tonne in early activity, initially encouraging additional speculative selling pressure.
- However, gains in Chicago soyoil provided spillover support and canola moved above unchanged late in the day.
- Domestic crusher demand, end-user bargain hunting and oversold price sentiment underpinned the canola market.
- Chicago soybeans, European rapeseed and Malaysian palm oil futures were weaker.
- Large supplies and a lack of export demand from China continued to overhang the canola market.
- There were 28,320 contracts traded on Friday, which compares with Wednesday when 17,910 contracts changed hands. Spreading accounted for 13,194 of the contracts traded.
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ICE canola weaker to start 2026
Glacier FarmMedia — ICE Futures canola contracts were weaker at midday Friday, as falling below nearby technical support to start…
SOYBEAN futures at the Chicago Board of Trade were weaker on Friday.
- Large South American crop prospects weighed on values, as Brazil’s harvest will start up this month.
- Weather conditions look relatively favourable over the next few weeks and analysts AgResource forecast Brazilian soybean production this year at over 180 million tonnes.
- Bearish chart signals contributed to the declines, with values at fresh two-and-a-half month lows.
- Soyoil futures moved higher, providing spillover support and tempering the declines in soybeans.
CORN futures were also pressured by large South American crop prospects.
- The USDA reported private export sales of 132,000 tonnes of corn to South Korea Friday morning.
WHEAT futures were narrowly mixed on Friday, lacking any clear direction as traders squared positions in thin volumes.
- Advancing harvest operations in Argentina and Australia, remained a bearish influence.
- Ongoing peace talks to end the war between Russia and Ukraine also continued to be followed by wheat traders.
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