Glacier FarmMedia — Canola futures on the Intercontinental Exchange were on the rise in the middle of Friday trading despite weaker vegetable oils.
An analyst said the January canola contract will need to reach C$640 per tonne in order for there to be “meaningful bullishness”. He also said the planted area for canola in 2026 will be “interesting” due to the current trade war and canola’s price structure.
Chicago soyoil, European rapeseed and Malaysian palm oil were in the red. However, crude oil continued to rise after the United States and European Union implemented new sanctions against Russian oil and gas companies.
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The Canadian dollar was down two-tenths of a U.S. cent compared to Thursday’s close. Last night, U.S. President Donald Trump said he was cancelling all trade talks with Canada due to a TV ad from the Ontario government featuring a 1987 pro-free trade address from then-president Ronald Reagan.
About 27,000 canola contracts have traded at 10:10 CDT. Prices in Canadian dollars per metric tonne:
Price Change
Nov 619.90 up 1.40
Jan 635.40 up 1.60
Mar 647.90 up 1.70
May 659.40 up 2.10
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
