By Glen Hallick
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange remained on the downside Thursday morning, pressured by the Statistics Canada report and by comparable oils.
StatCan issued its crop production report this morning, pegging the 2025/26 canola crop at 19.94 million tonnes. That’s an increase of nearly 700,000 tonnes from last year and above the five-year average of 18.25 million.
There were declines in the Chicago soy complex, Malaysian palm oil and European rapeseed. Small losses in crude oil weighed on the vegetable oils.
Also, Bloomberg reported China purchased three cargoes of canola from Australia.
The November canola contract fell below of its major moving averages, adding more pressure on the oilseed’s values.
The Canadian dollar was higher on Thursday morning, with the loonie climbing to 72.56 U.S. cents compared to Wednesday’s close of 72.35.
Approximately 13,950 contracts were traded by 8:59 CDT and prices in Canadian dollars per metric tonne were:
Price Change Canola Nov 644.60 dn 6.10 Jan 656.50 dn 6.50 Mar 665.90 dn 6.90 May 672.40 dn 8.90
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
