U.S. monthly crush, Trump comments propel soy higher
By Glen Hallick, MarketsFarm
Glacier FarmMedia MarketsFarm – Canola futures on the Intercontinental Exchange advanced on Monday, riding the spillover from sharp gains in the Chicago soy complex.
Soy swung higher on an all-time record monthly crush and on comments from United States Donald Trump. On Friday, Trump said China would be making big purchases of U.S. soybeans, but those have yet to materialize.
Additional support came from upticks in MATIF rapeseed, while Malaysian palm oil was relatively steady. However, crude oil prices eased back, tempering the increases in the vegetable oils.
Read Also
ICE canola following soybeans higher at midday
Glacier FarmMedia — ICE Futures canola contracts were stronger at midday Monday, hitting their highest levels in two-and-a-half months as…
The January canola contract pushed further above its 20- and 50-day moving averages as it approaches its 100-day average.
A lack of canola exports to China remained in the background, tempering the advances in the Canadian oilseed.
The Canadian dollar stepped back on Monday afternoon with the loonie at 71.20 U.S. cents compared to Friday’s close of 71.30.
There were 50,485 contracts traded on Monday, compared to 43,882 on Friday. Spreading accounted for 28,824 contracts traded.
Prices are in Canadian dollars per metric tonne:
Price Change
Canola Jan 655.20 up 7.70
Mar 666.70 up 8.10
May 675.30 up 8.10
Jul 680.10 up 8.10
SOYBEAN futures at the Chicago Board of Trade were stronger on Monday, following the crush report and comments made by United States President Donald Trump.
The U.S. National Oilseed Processors Association released its monthly report, showing 227.65 million bushels of soybeans were crushed in October – a record high for any month. Trade estimates ahead of the report were 197.40 million to 223.50 million bushels. Soyoil stocks of 1.31 billion pounds were up more than 22 per cent over last October.
Trump said on Friday that China will be buying large quantities of U.S. soybeans, but those purchases have not to materialize. Previously, Trump touted the yet-to-be-signed trade deal with China in which the latter is to acquire 12 million tonnes of soybeans before New Year’s and then buy 25 million tonnes per year for the next three years.
The U.S. Department of Agriculture reported export inspections of soybeans for the week ended Nov. 13 were 1.18 million tonnes, compared to 1.12 million the previous week. There were no shipments to China. The year-to-date for 2025/26 reached 10.11 million tonnes, well behind 17.59 million a year ago.
AgRural reported the Brazil soybean crop was about 71 per cent planted as of Nov. 13, nine points back of the same time last year.
CORN futures were higher on Monday, catching support from soy but losses in crude oil tempered the advances.
The USDA said corn export inspections were 2.05 million tonnes, up from last week’s 1.48 million. That’s the best week for corn in more than four years. The cumulative total hit 15.84 million tonnes, compared to 9.16 million a year ago.
AgRural placed the planting of Brazil’s first corn crop of 2025/26 at 85 per cent finished, down two points from a year ago.
WHEAT futures were higher on Monday, with double-digit increases for Chicago and Kansas City.
U.S. winter wheat growing areas have been forecast to get nearly 250 per cent of normal precipitation over the coming two weeks. In the last two weeks, those areas have seen only 35 per cent of normal rainfall.
Wheat export inspections came to 246,533 tonnes, down from 291,443 last week. Cumulative inspections came to 12.36 million tonnes versus last year’s 10.36 million.
