ICE Midday: Canola tumbles, projected acres decline

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market resumed its downturn on Wednesday due to tariffs imposed by the United States and China.

Meanwhile, Statistics Canada projected 2025-26 canola acres to total 21.646 million, down 1.7 per cent from last year. The data was collected before the United States implemented tariffs on Canadian imports.

An analyst said canola is testing its contract lows and it will need to “punch through them” in order to regain stability in the market.

Chicago soyoil and European rapeseed were down while Malaysian palm oil was up. Crude oil was stronger due to a weaker U.S. dollar.

The Canadian dollar was up more than two-tenths of a U.S. cent compared to Tuesday’s close.

About 35,400 contracts have traded at 10:07 CDT. Prices in Canadian dollars per metric tonne:

Price          Change

May 571.80     dn 19.10

Jul 585.40     dn 17.90

Nov 600.60     dn 11.40

Jan 612.10     dn  8.80