By Glen Hallick
Glacier FarmMedia — Intercontinental Exchange canola futures were unable to hang on to the modest upticks they had on Monday, finishing with small declines.
Despite areas on the Prairies confronted with dry conditions, for the most part the region’s canola crop is in fairly good condition. However that could change quickly if the Prairies fail to get rain in the coming days.
Pressure on canola came from losses in Chicago soybeans and soymeal. Increases in Chicago soyoil, European rapeseed and Malaysian palm oil limited how far canola fell back.
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Glacier FarmMedia | MarketsFarm – The Canadian dollar eased off on Monday, but remained above the 73 United States cent mark….
Nevertheless, declines in crude oil weighed on the vegetable oils.
The Canadian dollar slipped lower on Monday afternoon with the loonie at 72.98 U.S. cents compared to Friday’s close of 73.08.
There were 29,028 contracts traded on Monday, compared to 43,349 on Friday. Spreading accounted for 8,554 contracts traded.
SOYBEAN futures at the Chicago Board of Trade were lower on Monday due to good crop conditions.
The United States Department of Agriculture issued its export inspections report for the week ended July 10. Soybean inspections came to 147,045 tonnes, falling about 63 per cent from the previous week. The year-to-date tally climbed to 46.41 million tonnes, up more than 10 per cent from the same time last year.
Safras & Mercado projected the 2025/26 Brazil soybean crop at 179.88 million tonnes. The consultancy forecast the country’s forthcoming soybean acres at 119.14 million, up 1.4 million from 2024/25.
China reported its June soybean imports were 12.26 million tonnes, a record for the month but down 1.66 million tonnes from May’s intake. Of June’s imports, 9.73 million tonnes came from Brazil versus 724,000 from the U.S.
India said its June palm oil imports jumped 60 per cent from May at about 955,700 tonnes. India’s June sunflower imports were up about 18 per cent while those for soyoil were down 10 per cent.
CORN futures bumped up on Monday, reclaiming some lost ground.
While temperatures across the U.S. Corn Belt are to increase over the next 10 days, rain is also in the forecast.
The USDA reported corn export inspections were nearly 1.29 million tonnes on the week, falling by almost 18 per cent. Cumulative exports reached 57.81 million tonnes, improving by 29.5 per cent over last year.
U.S. President Donald Trump announced he will impose 30 per cent tariffs on the European Union and Mexico effective Aug. 1.
AgRural placed the Brazil corn harvest at 40 per cent complete, down 34 points from this time last year.
WHEAT futures were lower across the board on Monday, pressured by good conditions.
Weekly U.S. wheat export inspections tallied 439,533 tonnes, down almost 16 per cent. Cumulative inspections for 2025/26 were 2.28 million tonnes, down about three per cent from this time last year.
SovEcon placed the Russian winter wheat harvest at nine per cent finished, down 31 points from a year ago. SovEcon projected Russian July wheat exports at 2.1 million to 2.6 million tonnes, with IKAR estimating just over two million tonnes.
Taiwan issued a tender for 89,650 tonnes of U.S. wheat.
