Glacier FarmMedia – Canola futures on the Intercontinental Exchange extended their downturn in the middle of Thursday trading after the release of new data from Statistics Canada.
StatCan released its first satellite/model-based crop production estimates earlier today with 2025-26 canola production projected at 19.9 million tonnes, compared to a revised value of 19.2 million in 2024-25. Agriculture and Agri-Food Canada estimated the canola crop to total 20.1 million tonnes last week.
Despite having the fewest seeded acres in three years at 21.6 million, it would be the largest canola crop since 2018-19. The canola yield was 41 bushels per acre, up from 38.8 in 2024-25.
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Canola futures on the Intercontinental Exchange suffered double-digit losses on Thursday after the release of new data from Statistics Canada….
Chicago soyoil, European rapeseed and Malaysian palm oil were lower. Crude oil also declined due to a potentially growing surplus despite Ukrainian attacks on Russian oil refineries last night.
An analyst said harvest pressure and U.S. tariffs on imports are also contributing to canola’s losses.
A heatwave continues to swelter the Prairie provinces with dry conditions and high temperatures around 30 degrees Celsius. However, the Lethbridge area will see rain and thunderstorms today and tomorrow.
The Canadian dollar was up nearly three-tenths of a U.S. cent compared to Wednesday’s close.
About 21,300 canola contracts have traded at 10:05 CDT. Prices in Canadian dollars per metric tonne:
Price Change
Nov 639.60 dn 11.10
Jan 651.40 dn 11.70
Mar 660.40 dn 12.40
May 668.70 dn 12.60
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
