By Glen Hallick
Glacier FarmMedia – Intercontinental Exchange canola futures were mixed on Thursday, with small increases in the old crop months and losses in the new crop positions.
While gains in Malaysian palm oil, along with Chicago soybeans and soymeal provide support to canola, losses in Chicago soyoil and MATIF rapeseed weighed on values. Sharp declines in crude oil weakened the vegetable oils.
The Canada-China deal continued to provide support to canola, but a record harvest and slower exports limited that upside.
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By Glen Hallick Glacier FarmMedia – Canola futures on the Intercontinental Exchange were mixed on Thursday, struggling to recoup and…
The March canola contract remained above most of its major moving averages, lagging behind its 200-day average.
Agriculture and Agri-Food Canada issued its January supply and demand report, raising 2025/26 canola exports to 8.20 million tonnes and projected those for 2026/27 at 7.50 million.
An analyst said the cold snap over the eastern half of the Prairies shouldn’t have too much of a negative impact on rail movement.
The Canadian dollar was higher on Thursday afternoon, with the loonie at 72.52 U.S. cents compared to Wednesday’s close of 72.39.
There were 36,918 contracts traded on Thursday, compared to 53,811 on Wednesday. Spreading accounted for 29,886 contracts traded.
Prices are in Canadian dollars per metric tonne:
Price Change
Canola Mar 647.20 up 0.70
May 657.80 up 0.30
Jul 664.60 up 0.10
Nov 656.20 dn 3.00
SOYBEAN futures at the Chicago Board of Trade settled narrowly mixed on Thursday, ahead of tomorrow’s delayed export sales report.
With Monday’s holiday, the United States Department of Agriculture postponed its report to Friday. Trade guesses ahead of it came to 1.5 million to three million tonnes. Those for soymeal were 200,000 to 500,000 tonnes, and soyoil at 5,000 to 25,000 tonnes.
The USDA reported a private sale for 192,350 tonnes of old crop soybeans to unknown destinations.
ANEC upped its estimate on Brazil’s January soybean exports by 1.6 per cent to now 3.79 million tonnes. Compared to last January, that’s a 338.3 per cent jump.
Abiove placed 2025/26 Brazil soybean production at 177.12 million tonnes, with exports of 111.50 million and a crush of 61 million.
Rain next week is to slow harvesting in northern Brazil. Drier conditions are forecast for Southern Brazil and parts of Argentina.
The European Union December soybean crush came in at 1.27 million tonnes versus 1.33 million a year ago.
CORN futures were higher on Thursday, with spillover from wheat countering bearish ethanol data.
The U.S. Energy Information Administration reported weekly ethanol production averaged 1.12 million barrels per day for the week ended Jan. 16, down from nearly 1.20 million the previous week. Stocks improved sharply by 1.27 million barrels at 25.74 million.
Expectations for corn export sales ranged from 1.9 million to 3.1 million tonnes.
An attempt to include year-round E15 in the Congressional spending bill failed. However, legislation is to be introduced as early as February.
ANEC raised its call on Brazil’s January corn exports by 5.5 per cent at 3.45 million tonnes.
WHEAT futures strengthened Thursday, on weather concerns.
A winter storm is to bring heavy snow and freezing rain to the central part of the continental U.S. The Northern Plains are to get temperatures colder than -40 C. Widespread rain is forecast to fall across much of the Southern Plains, helping to rectify the region’s dry conditions.
Projections for U.S. wheat export sales came to 150,000 to 450,000 tonnes.
SovEcon held its call on the Russian wheat crop at 83.80 million tonnes.
