By Glen Hallick
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange continued to pull back on Friday morning, getting pressure from losses in comparable oils and yesterday’s Statistics Canada report.
The Chicago soy complex, European rapeseed and Malaysian palm oil were to the downside, with declines in crude oil weighing on vegetable oil values.
StatCan projected the 2025-26 canola crop to come in at 19.94 million tonnes, higher than the five-year average of 18.25 million.
The November contract stepped further below its major moving averages. Crush margins edged up, with the November positions rising by almost C$2 at C$187.50 to C$196.40 per tonne above the futures.
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Canola futures on the Intercontinental Exchange were still reeling on Friday following the release of Statistics Canada’s bearish canola production…
Saskatchewan reported its provincewide harvest of all crops was 12 per cent complete, and its canola harvest was one per cent finished. Alberta is set to issue its crop report this afternoon.
Prairie temperatures are forecast to push upwards to 30 degrees Celsius, which aide harvest progress.
The Canadian dollar dipped Friday morning, with the loonie at 72.60 U.S. cents compared to Thursday’s close of 72.70.
Approximately 16,600 contracts were traded by 8:35 CDT and prices in Canadian dollars per metric tonne were:
Price Change Canola Nov 626.90 dn 8.80 Jan 639.20 dn 9.00 Mar 648.80 dn 10.50 May 659.70 dn 9.50
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
