By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were attempting to recover from earlier losses on late Friday morning, as Chicago soyoil turned positive.
Soyoil started Friday sharply lower after posting strong gains yesterday and it pulled along canola.
A trader said the Trump administration was close to making an announcement on small refinery exemptions from the Renewable Fuel Standard. The trader cautioned that if more exemptions are allowed, that could have a negative effect on the market.
Canola was gleaning support from the Chicago soy complex and Malaysian palm oil, but there were losses in European rapeseed. Small upticks in crude oil provided little direction to the vegetable oils.
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Statistics Canada is scheduled to release its crop production report on Aug. 28. Earlier this week, Agriculture and Agri-Food Canada published its monthly report, raising its call on 2025/26 canola production from 17.8 million tonnes to now 20.1 million.
The Canadian dollar turned around at mid-session Friday, with the loonie rising to 72.30 U.S. cents compared to Thursday’s close of 71.96.
Approximately 30,500 canola contracts were traded as of 10:34 am CDT, with prices in Canadian dollars per metric tonne:
Price Change Canola Nov 666.40 up 3.20 Jan 677.70 up 3.30 Mar 687.70 up 3.50 May 696.20 up 2.90
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
