Glacier FarmMedia – Canola futures on the Intercontinental Exchange took another step lower in the middle of Monday trading, weakened by comparable oils and harvest pressure.
Agriculture and Agri-Food Canada released its September principal field crop estimates on Friday, using Statistics Canada’s numbers to project the 2025-26 canola crop at 20.028 million tonnes, below some analysts’ predictions of 21 million.
The United States Department of Agriculture’s attaché in China estimated canola imports to be down one million tonnes in 2025-26 compared to the previous year.
Read Also
ICE Canada Morning Comment: Canola to the downside
By Glen Hallick Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures slipped back on Monday morning, due to pressure…
An analyst said the Prairie canola and U.S. soybean harvests are advancing due to favourable weather, and in turn are weighing on oilseed values. Adding to that, the funds have turned short on canola.
Chicago soyoil, European rapeseed and Malaysian palm oil were lower. Crude oil was down US$2 per barrel due to the restart of Iraqi exports and plans by OPEC+ to raise output in November.
Some Canadian markets, including canola, will be closed on Tuesday for the National Day For Truth and Reconciliation.
The Canadian dollar was up more than one-tenth of a U.S. cent compared to Thursday’s close.
About 22,900 canola contracts have traded at 10:16 CDT. Prices in Canadian dollars per metric tonne:
Price Change
Nov 606.70 dn 7.90
Jan 620.10 dn 7.60
Mar 631.20 dn 8.00
May 641.40 dn 8.00
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
