ICE canola weaker to start 2026

Glacier FarmMedia — ICE Futures canola contracts were weaker at midday Friday, as falling below nearby technical support to start the New Year.

• The March contract fell below C$600 per tonne, which was bearish from a chart standpoint and encouraged additional speculative selling. 
• Chicago soybeans, European rapeseed and Malaysian palm oil futures were all weaker, contributing to the softer tone in canola.
• Chicago soyoil was higher, providing underlying support to the Canadian oilseed.
• Large supplies and a lack of export demand from China continued to overhang the canola market.
• Domestic crusher demand and end-user bargain hunting provided support. Canola was also looking oversold by some chart measures and due for a correction.
• An estimated 15,700 canola contracts traded as of 10:30 CST. Activity was thin and choppy, with many participants still on the sidelines following the holidays.

Prices in Canadian dollars per metric tonne at 10:30 CST:

Canola            Mar   595.40    dn  7.00

                  May   606.70    dn  6.60

                  Jul   615.50    dn  5.90

                  Nov   620.90    dn  5.10