Glacier FarmMedia -– Canola prices on the Intercontinental Exchange weakened on Monday in what an analyst called a “macro selloff” hit the markets, especially in crude oil.
Crude oil fell by more than US$3 per barrel as tensions eased between the United States and Iran. Chicago soyoil and Malaysian palm oil were down, while European rapeseed was mixed.
At mid-afternoon, the loonie was pressured by crude oil and a stronger U.S. dollar, losing seven-tenths of a U.S. cent compared to Friday’s close.
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ICE Midday: Canola down in ‘macro selloff’
Glacier FarmMedia – Canola futures on the Intercontinental Exchange were weaker in the middle of Monday trading due to what…
There were 40,113 canola contracts traded on Monday, compared to Friday when 53,441 contracts changed hands.
WHEAT futures saw their worst day of 2026 as prices fell in many other commodities.
The United States Department of Agriculture reported 326,828 tonnes of wheat were inspected for export during the week ended Jan. 29, down 13.8 per cent from last week but up 29.11 per cent from last year. So far this marketing year, shipments have totalled 16.69 million tonnes, up 18.6 per cent from the same week last year.
The European Commission trimmed its 2026 soft wheat export projection by 1.5 million tonnes at 29.5 million.
India’s meteorological department forecasted February rainfall in the northwestern wheat-growing parts of the country to be less than 78 per cent of normal and above-normal temperatures would accelerate wheat development.
Taiwan purchased 106,350 tonnes of wheat in a tender from the United States late last week.
March SOYBEANS saw a two-and-a-half week low on Monday in their third negative session in a row.
U.S. soybean export shipment inspections totaled 1.31 million tonnes last week, down 1.9 per cent from the previous week, but 14.9 per cent above the same week last year. Marketing year exports are at 21.99 million tonnes, down 35.7 per cent from last year.
The Buenos Aires Grain Exchange reported 53 per cent of Argentina’s soybean crop was in good to excellent condition, down eight points from last week but up from 24 per cent last year. The crop is also 96.2 per cent planted.
AgRural estimated Brazil’s soybean crop at 10 per cent harvested as of Jan. 29.
StoneX estimated Brazil’s soybean crop at 181.6 million tonnes, up four million from its previous projection, while Celeres forecasted 181.3 million tonnes, up 4.1 million from its previous estimate.
March CORN dropped to its lowest price in more than a week in its second consecutive session in the red.
U.S. corn export inspections were at 1.14 million tonnes, down 9.9 per cent from the previous week and down 26.6 per cent from last year. The marketing year total is at 32.61 million tonnes, up 49.9 per cent from a year ago.
The BAGE estimated the Argentina corn crop to be 46 per cent good to excellent, down six points from last week but up from 31 per cent last year.
AgRural reported the Brazilian first corn crop at 10 per cent harvested, down from 14 per cent one year ago. The safrinha corn crop was 13 per cent planted, up four points from last year, and was forecast to total 106.37 million tonnes, a 560,000-tonne increase from its previous forecast.
The USDA’s cattle inventory report as of Jan. 1 showed all cattle and calves at 86.2 million head, down 200,000 from the trade estimate for the smallest herd since 1951.
