Glacier FarmMedia — ICE canola futures were stronger Wednesday morning, seeing a modest correction after Tuesday’s selloff. Bargain hunting at the lows and ideas the losses were overdone from a chart standpoint contributed to the early advances.
Chinese anti-dumping tariffs set to come into effect on Thursday will effectively halt demand from Canada’s largest customer for canola seed. However, market participants were already anticipating a cut to overall exports in 2025/26 given the tighter supply projections, with other destinations also expected to pick up some of the slack of any lost Chinese business — although at lower prices.
Chicago soybeans and soyoil were higher in early trade, providing some spillover support for canola.
About 18,100 canola contracts had traded as of 8:40 CDT.
Prices in Canadian dollars per metric tonne at 8:40 CDT:
Canola Nov 660.80 up 10.50
Jan 673.80 up 10.70
Mar 684.30 up 9.70
May 692.90 up 8.30
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
