Glacier FarmMedia – Canola futures on the Intercontinental Exchange continued to move lower on Thursday after Statistics Canada released its latest principal field crop estimates earlier in the day.
StatCan reported a record canola crop of 21.80 million tonnes, 1.77 million more than its September estimate and 2.56 million more than last year’s crop.
An analyst said the production estimate was larger than expected and he predicted canola prices will struggle as long as China remains absent from the Canadian export program.
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Glacier FarmMedia -– Canola futures on the Intercontinental Exchange were down on Friday, with the January contract falling to its…
Chicago soyoil was slightly higher, while European rapeseed and Malaysian palm oil were lower. Crude oil was up after Ukrainian attacks on Russian oil infrastructure.
At mid-afternoon, the Canadian dollar was steady compared to Wednesday’s close.
There were 93,401 canola contracts traded on Thursday, compared to Wednesday when 84,112 contracts changed hands. Spreading accounted for 64,316 of the contracts traded.
At the Chicago Board of Trade on Thursday, March CORN posted modest gains, continuing up-and-down trade throughout the week so far.
Statistics Canada estimated 2025-26 Canadian corn production at 14.87 million tonnes in its principal field crop report released on Thursday, compared to last year’s 15.34 million.
The U.S. Grain & BioProducts Council’s annual corn harvest quality report released on Thursday projected the largest U.S. corn crop ever at 16.75 billion bushels with a record yield of 186 bushels per acre. The crop is also set to have the lowest rate of broken corn and foreign material in the report’s 15-year history.
ANEC projected Brazilian corn exports for December at 4.99 million tonnes, up from 3.62 million during the same month last year.
USDA reported export sales of 392,500 tonnes of corn to Mexico as well as 100,800 tonnes to Colombia.
January SOYBEANS made a modest gain on Thursday, ending a three-day downturn.
StatCan estimated the 2025-26 soybean crop at 6.79 million tonnes, down from 7.57 million last year.
ANEC projected Brazil’s December soybean exports at 2.81 million tonnes, up from 1.47 million a year earlier.
January Minneapolis spring WHEAT ended the day lower, while its Chicago soft and Kansas City hard red counterparts were higher after an up-and-down session.
StatCan projected the 2025-26 all wheat crop at a record 39.95 million tonnes, up from 35.94 million last year.
Canadian durum wheat production for 2025-26 was estimated at 7.14 million tonnes, up from 6.53 million in September and 6.38 million last year.
A South Korean importer purchased 30,300 tonnes of wheat in an overnight tender.
Thailand purchased 240,000 tonnes of optional origin wheat.
