ICE Canola Midday: Weaker outside markets, profit-taking pulling down prices
By Glen Hallick
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were lower mid-morning Friday, due to losses in outside markets and from profit-taking said a trader.
The trader said the vegetable oils were the biggest influence on canola, with declines in Chicago soy, MATIF rapeseed and Malaysian palm oil. Crude oil was stepping back as well, which added more pressure on the veg oils.
Also, he said canola for most of this week approached some resistance levels as traders covered export business. That has come to an end and he expects activity to wind down as Christmas approaches.
At 289,200 tonnes, exports of canola improved over the week ended Dec. 7, the Canadian Grain Commission reported. That brought the 2025/26 cumulative total to 2.38 million tonnes, compared to 4.03 million a year ago.
The Canadian dollar eased back by mid-session Friday, with the loonie at 72.51 U.S. cents, compared to Thursday’s close of 72.60.
Approximately 45,100 canola contracts were traded as of 10:31 am CST, with prices in Canadian dollars per metric tonne:
Canola Jan 610.20 dn 11.10
Mar 622.60 dn 10.20
May 634.50 dn 9.50
Jul 642.30 dn 8.60
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
