Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were higher on Friday despite weakness in most comparable oils.
Chicago soyoil and Malaysian palm oil were down, while European rapeseed was mostly up. Crude oil declined due to the Trump administration allowing Chevron to resume operations in Venezuela.
Scattered showers and thunderstorms are expected on the Canadian Prairies today and this weekend. Central and southern Alberta should see the heaviest precipitation.
At mid-afternoon, the Canadian dollar was down more than four-tenths of a United States cent compared to Thursday’s close.
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ICE Midday: Canola showing independent strength
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were stronger in the middle of Friday trading despite mostly…
There were 32,543 canola contracts traded on Friday, which compares with Thursday when 33,337 contracts changed hands. Spreading accounted for 17,126 of the contracts traded.
WHEAT futures showed small losses on the Chicago Board of Trade on Friday. Chicago soft and Kansas City hard red contracts have alternated between gains and losses over the past week, but September Minneapolis spring wheat fell to another contract low.
The Canadian Grain Commission reported cumulative wheat exports of 21.62 million tonnes, compared to 20.39 million one year ago.
The United States Wheat Quality Council tour ended on Thursday with an all-wheat yield estimate of 48.3 bushels per acre, down from last year’s record of 53.8 bpa. Spring wheat was 49 bpa compared to the five-year average of 44.6 and last year’s figure of 54.5.
The U.S. Department of Agriculture totaled 8.984 million tonnes of wheat sold in the current marketing year as of July 17, 39 per cent of the USDA’s 2025-26 estimate and above the average pace of 37 per cent.
FranceAgriMer estimated the French soft wheat harvest to be 86 per cent complete as of July 21, progressing 10 points from last week and 27 points ahead of the average pace of 59 per cent. This time last year, the harvest was only 37 per cent finished. The hard red wheat harvest was 98 per cent complete, compared to 64 per cent last year and the 84 per cent average.
Argentina’s wheat was 96 per cent harvested compared to 97 per cent last year.
A South Korean importer purchased 85,200 tonnes of wheat from the U.S. this morning.
September CORN nearly erased its Thursday gains for its fourth negative session in five days.
Total U.S. corn export commitments were at 70.11 million tonnes last week, above the USDA’s estimate for the entire 2024-25 marketing year. Actual exports were at 60.17 million, 86 per cent of the USDA’s estimate and behind the 89 per cent average at this time of year.
The USDA reported a private export sale for 102,870 tonnes of new crop corn to Mexico and another for 140,000 tonnes to South Korea.
Argentina’s corn crop was 86 per cent harvested compared to 92 per cent at this time last year.
August SOYBEANS closed below the US$10 per bushel mark for the first time since July 15, while the November contract was down in four of its last five sessions.
Nebraska to Ohio will see a weather system bring 25 to 50 millimetres of rain next week.
Export commitments for U.S. soybeans were at 50.81 million tonnes, more than the USDA projected for the entire marketing year. Actual shipments totaled 46.83 million, 92 per cent of the expected number and behind the 93 per cent average.
The USDA reported a private export sale for 142,500 tonnes of new crop soybeans to Mexico.
Brazil reported soybean exports from July 1 to 18 were 7.437 million tonnes, up from 4.33 million in June and down from 11.25 million last July. Annual exports could reach 65 million tonnes.
