ICE canola higher, fewer acres planted

Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were higher Friday morning after Statistics Canada released its survey-based acreage estimates.

Planted canola acres for 2025-26 totaled 21.457 million, down 189,000 from StatCan’s March estimate and down 554,000 from the year before. Two primary factors for the decline were soil moisture and ongoing trade issues. Canadian farmers planted more wheat, oats, soybeans, lentils, corn, and dry peas this spring, but fewer acres of barley.

Chicago soyoil is down, Malaysian palm oil is up and European rapeseed is mixed. Crude oil is slightly higher, but is on track for its largest weekly decline in two years.

Nearly 10,400 contracts were traded. Prices in Canadian dollars per metric ton as of 8:40 CDT:

Jul  705.00  up  8.00

Nov  713.90  up  2.40

Jan  721.90  up  1.80

Mar  728.50  up  1.80