ICE Canola Midday: Prices nudging higher
By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were higher mid-morning Friday, gleaning support from gains in the Chicago soy complex, Malaysian palm oil and MATIF rapeseed.
Although global crude oil was mixed, increases in West Texas Intermediate were spilling over into the vegetable oils.
With the reduced trading hours today in the United States markets and activity moving into holiday mode, activity could be more volatile.
“The juniors of the juniors are trading today,” an analyst quipped.
As the January canola contract remained above its 20- and 50-day moving averages it was only a few dollars behind its 100-day average.
Canola exports fell back during the week ended Nov. 23 at 99,500 tonnes compared to 284,600 the previous week, the Canadian Grain Commission reported. Cumulative exports tallied 1.93 million tonnes versus 3.69 million the same time last year. Year-to-date domestic usage reached 3.69 million tonnes compared to 3.73 million a year ago.
The canola market will be positioning ahead of Thursday’s production report from Statistics Canada. The trade firmly believes the 2025/26 canola harvest is much bigger than the 20.03 million tonnes StatCan estimated in September.
The Canadian dollar was stronger at mid-session Friday, with the loonie improving to 71.62 U.S. cents, compared to Thursday’s close of 71.26.
Approximately 22,150 canola contracts were traded as of 10:32 am CST, with prices in Canadian dollars per metric tonne:
Canola Jan 653.60 up 2.00
Mar 666.70 up 2.20
May 677.10 up 2.70
Jul 682.30 up 2.80
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
