ICE canola mixed at midday Monday

By Phil Franz-Warkentin

Glacier FarmMedia | MarketsFarm — The ICE Futures canola market was mixed at midday Monday, with losses in the old crop July contract and gains in the deferred months.

A rally in the Chicago soy complex provided spillover support, as China and the United States reached a tentative trade truce and tariff reductions. European rapeseed was also higher, while the Malaysian palm oil market was closed for a holiday.

The U.S. Department of Agriculture releases its monthly supply/demand estimates at 11:00 a.m. CDT. The data will include the agency’s first outlooks on 2025/26 production and usage, with any surprises likely to set the tone for the final hours of trade.

Tight canola supplies and the need to ration demand remained supportive for canola.

An estimated 40,000 canola contracts traded as of 10:32 CDT.

Prices in Canadian dollars per metric tonne at 10:32 CDT:

Canola            Jul   710.90    dn  1.20

Nov   675.80    up  5.20

Jan   683.00    up  5.00

Mar   688.60    up  3.80