Negative sentiment generates losses in U.S. grains, oilseeds
By Glen Hallick, MarketsFarm
Glacier FarmMedia MarketsFarm – Intercontinental Exchange canola futures closed weaker on Friday, pulled down by sharp losses in the Chicago soy complex and crude oil.
More modest declines in MATIF rapeseed and Malaysian palm oil also contributed to the fall in canola values.
With the absence of China buying canola, lacklustre exports continued to weigh on the oilseed. The Canadian Grain Commission reported year-to-date canola exports for 2025/26 were about 796,000 tonnes as of Oct. 5, compared to around 1.95 million the same time last year.
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With the Prairie canola harvest set to wrap up for the year, rain has been forecast for the eastern half of the region over the Thanksgiving long weekend. Meanwhile, the western half remains in need of moisture before winter.
Saskatchewan said its canola harvest was 89 per cent complete provincewide. Manitoba reported earlier this week its canola harvest was 92 per cent done. Alberta will release its crop report later this afternoon.
The Canadian dollar was virtually unchanged Friday afternoon at 71.44 U.S. cents.
There were 75,068 contracts traded on Friday, compared to 67,424 on Thursday. Spreading accounted for 53,754 contracts traded.
Prices are in Canadian dollars per metric tonne:
Price Change
Canola Nov 607.40 dn 9.50
Jan 622.60 dn 8.80
Mar 634.40 dn 7.90
May 644.90 dn 7.20
SOYBEAN futures at the Chicago Board of Trade were weaker on Friday, due to a change in tone from the White House towards China.
United States President Donald Trump said on Friday that he might not meet with Chinese President Xi Jinping at the APEC summit in South Korea at the end of the month. Yesterday, Trump said he was looking forward to speaking with Xi. The about face came after China tightened its export controls on its rare earths.
Meanwhile, China continued to buy 2025/26 soybeans from Brazil and Argentina, not having purchased any from the U.S.
Although earlier reports said the Trump administration would announce a multi-billion dollar aid package for U.S. soybean growers on Tuesday, that became sometime this week. However, no announcement had been made by mid Friday afternoon.
Indonesia said it will go ahead with its plan to increase its biodiesel mandate to include 50 per cent palm oil starting in 2026.
CORN futures were lower on Friday, getting pressure from sharp losses in crude oil and the soy complex.
There’s to be favourable weather in the U.S. for the corn and soybean harvests.
Weekend rains are to slow the planting of corn and soybeans in Brazil.
China announced it will maintain its corn import quota at 7.20 million tonnes for 2026.
The French corn harvest advanced 13 points to reach 37 per cent complete as of Oct. 6.
WHEAT futures were lower on Friday, in sympathy with corn and soy.
Dry weather has been forecasted for most of the winter wheat growing areas of the U.S. that will help advance the crop’s seeding.
SovEcon added 600,000 tonnes to its call on the 2025/26 Russian wheat crop at 87.80 million tonnes due to large yields in Siberia and favourable weather.
France said five per cent of its soft wheat had been seeded by Oct. 6, three points below the five-year average.
