ICE canola weaker midday Monday

By Phil Franz-Warkentin

Glacier FarmMedia | MarketsFarm — ICE Futures canola contracts were weaker at midday Monday, as losses in outside markets and ongoing tariff uncertainty weighed on prices.

Chicago soyoil, European rapeseed and Malaysian palm oil futures were all weaker on the day.

Agriculture and Agri-Food Canada released updated supply/demand estimates after Friday’s close, raising their call for 2025/26 canola ending stocks to 2.0 million tonnes. That compares with an earlier estimate of only 1.0 million tonnes and the 2024/25 projection of 1.3 million tonnes.

Speculative fund traders moved from a net long position in canola to a net short during the week ended March 18, according to the latest Commitments of Traders report from the Commodity Futures Trading Commission.

Canola remains cheap compared to other oilseeds, which was likely keeping some end user demand underneath the market.

An estimated 11,800 canola contracts traded as of 10:39 CDT.

Prices in Canadian dollars per metric tonne at 10:39 CDT:

Canola            May   566.80    dn  4.90

Jul   577.40    dn  4.40

Nov   582.20    dn  4.40

Jan   587.90    dn  5.50