By Glen Hallick
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were lower late Wednesday morning, following the release of the September production update from Statistics Canada.
Canola output for 2025/26 was raised to 20.03 million tonnes from last month’s estimate of 19.94 million. However, an analyst said production could go higher, suggesting something as much as 21 million tonnes due to strong yields. The analyst said export prospects for canola are currently not that good with the absence of China.
There was also pressure from declines in comparable oils, including sharp losses in Chicago soyoil, with soybeans along with European rapeseed and Malaysian palm oil slipping back.
Read Also
Global Markets: U.S. government shutdown ends
Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally. – The…
Although decreases in crude oil weighed on the vegetable oils, it was attempting to turn positive.
Manitoba reported its overall harvest was halfway finished with the canola at one-third complete.
The Canadian dollar was stepping back by mid-session Wednesday, with the loonie at 72.68 U.S. cents compared to Tuesday’s close of 72.74.
Approximately 25,850 canola contracts were traded as of 11:05 am CDT, with prices in Canadian dollars per metric tonne:
Canola Nov 632.40 dn 8.40
Jan 644.40 dn 8.30
Mar 655.30 dn 8.20
May 665.80 dn 7.10
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
