By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were attempting to push higher on Tuesday morning, attempted to shed its overnight declines.
Canola had been driven lower by losses in Chicago soyoil and Malaysian palm oil. Gains in Chicago soybeans and soymeal plus European rapeseed tempered further declines, while increases in crude oil lent support to the vegetable oils.
Tuesday will be another good day for combining on the Prairies with temperatures climbing into the mid to high 20 degrees Celsius.
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Statistics Canada issued its report on ending stocks as of July 31 with canola pegged at nearly 1.60 million tonnes, compared to trade guesses of 1.50 million to four million tonnes. That’s down from about 3.23 million tonnes at the end of 2024/25 and the five-year average of 2.36 million.
StatCan will release its updated production report on Sept. 17. Last month, the agency estimated 2025/26 canola production at 19.94 million tonnes.
The Canadian dollar was virtually unchanged on Tuesday morning, with the loonie at 72.36 U.S. cents.
Approximately 9,500 contracts were traded by 8:41 CDT and prices in Canadian dollars per metric tonne were:
Price Change Canola Nov 626.80 dn 0.50 Jan 637.90 dn 0.70 Mar 648.60 dn 0.60 May 658.40 dn 0.30
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
