By Glen Hallick
Glacier FarmMedia – Intercontinental Exchange canola futures incurred losses in the old crop contracts on Tuesday, fading from earlier increases. The new crop positions hung on to modest gains.
Upticks in Chicago soyoil evaporated as well, closing with small losses as did soybeans. Increases in Malaysian palm oil, MATIF rapeseed, Chicago soymeal and crude oil could only temper the losses in canola.
An analyst said canola had been following through on Friday’s Canada-China trade deal and reports that China bought 60,000 tonnes of Canadian canola for March delivery.
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The March canola contract slipped below its 100-day moving average, while staying above the 20- and 50-day averages.
The Canadian dollar was higher on Tuesday afternoon, with the loonie at 72.31 U.S. cents, compared to Monday’s close of 72.11.
There were 54,554 contracts traded on Tuesday, compared to 24,856 on Monday. Spreading accounted for 51,998 contracts traded.
Prices are in Canadian dollars per metric tonne:
Price Change
Canola Mar 636.20 dn 2.80
May 647.60 dn 2.20
Jul 654.80 dn 0.90
Nov 651.30 up 0.90
SOYBEAN futures at the Chicago Board of Trade were lower on Tuesday, negatively impacted by global reaction to the Trump administration’s fixation on acquiring Greenland.
China has reportedly purchased 12 million tonnes of United States soybeans. This came about five weeks ahead of the Feb. 28 deadline.
The U.S. share of China’s soybean imports fell to 15 per cent in 2025, down six points from the previous year. Brazil’s share in 2025 rose 2.6 points at 73.6 per cent. China imported 111.83 million tonnes of soybeans that year.
Soybean export inspections for the week ended Jan. 15 were 1.34 million tonnes compared to 1.59 million the previous week, the U.S. Department of Agriculture reported. Year-to-date inspections reached 19.34 million tonnes versus 32.31 million this time last year.
Analyst Michael Cordonnier maintained his calls on the Brazil and Argentina soybean production at 178 million and 49 million tonnes, respectively. He added 500,000 tonnes to his estimate for Paraguay at 11 million.
AgRural placed the Brazil soybean harvest at two per cent done.
ANEC tacked on 60,000 tonnes to its forecast on Brazil’s January soybean exports at 3.79 million tonnes.
CORN futures were slightly lower on Tuesday, unable to benefit from its strong exports.
U.S. corn export inspections tallied 1.48 million tonnes, down from 1.50 million a week ago. Cumulative inspections hit 29.92 million tonnes, well ahead of 19.25 million this time last year.
Cordonnier kept his forecasts for Brazil and Argentina corn production at 137 million and 56 million tonnes, respectively.
AgRural pegged the first Brazil corn harvest at slightly below two per cent finished, with the planting of the second corn crop at just over one per cent complete.
ANEC added 180,000 tonnes to its projection for Brazil’s January corn exports at 3.45 million.
WHEAT futures were down on Tuesday, in sympathy with soybeans and corn.
The U.S. weather forecast called for precipitation for the Southern Plains, easing dryness in the region.
U.S. wheat export inspections rose to 392,611 tonnes from 317,964, with the cumulative total at 15.97 million tonnes versus 13.33 million a year ago.
Year-to-date European Union wheat exports were 11.80 million tonnes, 200,000 less than a year ago.
Ukraine’s farmers union said that cold weather over the last two weeks could damage the country’s winter wheat and winter rapeseed crops.
Algeria bought 600,000 tonnes of milling wheat, likely from Argentina.
