By Glen Hallick, MarketsFarm
Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures finished lower in choppy trading on Friday, unable to shrug off pressure from the latest United States tariff threats.
On Thursday, U.S. President Donald Trump said he will impose a 35 per cent levy come Aug. 1 on top of current tariffs on U.S. imports from Canada. However, the threat doesn’t extend to items covered by the Canada-U.S.-Mexico Agreement as well as energy and fertilizer.
The July world oilseed report from the U.S. Department of Agriculture revised its estimates for Canadian canola. For 2025/26, the USDA trimmed canola production to 19.25 million tonnes and bumped up ending stocks to 1.62 million.
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By Glen Hallick Glacier Farm Media | MarketsFarm – Intercontinental Exchange canola futures were recovering late Friday morning from losses…
The Canadian Grain Commission reported cumulative canola exports as of July 6, nudged up to 9.15 million tonnes, almost 46 per cent more than the same time last year. Year-to-date domestic use reached 10.69 million tonnes, for about a four per cent increase.
Spillover from gains in Chicago soyoil and Malaysian palm oil tried to limit the declines in canola. However, pressure came from losses in Chicago soybeans and soymeal, while European rapeseed was mixed.
The Canadian dollar was a pinch higher on Friday afternoon with the loonie at 73.15 U.S. cents compared to Thursday’s close of 73.08.
There were 43,349 contracts traded on Friday, compared to 33,298 on Thursday. Spreading accounted for 13,674 contracts traded.
Prices are in Canadian dollars per metric tonne:
Price Change Canola Nov 682.70 dn 2.40 Jan 691.10 dn 2.50 Mar 698.00 dn 2.40 May 703.70 dn 2.40
SOYBEAN futures at the Chicago Board of Trade remained lower on Friday, following the release of the July supply and demand estimates from the United States Department of Agriculture.
The USDA cut 2025/26 soybean production by five million bushels at nearly 4.34 billion. Ending stocks were bumped up 15 million bushels at 310 million.
The Buenos Aires Grain Exchange said the Argentine soybean harvest is finished and estimated the crop at 50.30 million tonnes.
The USDA attaché in Kuala Lumpur projected Malaysian palm oil production for 2025/26 at 19.40 million tonnes, for an increase of 300,000 tonnes compared to the previous year. Ending stocks were raised by 175,000 tonnes at 2.30 million.
The Grain Association of Western Australia (GIWA) projected 2025/26 canola production in the Australian state at 2.87 million tonnes, the same as the previous year. However, planted area is to increase to 1.71 million hectares from 1.65 million.
CORN futures held to the downside on Friday, due to good crop conditions.
U.S. corn production for 2025/26 was reduced by 115 million bushels at about 15.71 billion. The carryover was cut by 90 million bushels at 1.66 billion.
The BAGE placed the Argentine corn harvest at about 62 per cent complete, expecting 49 million tonnes when it’s done.
WHEAT futures fell back on Friday with expectations for a strong crop.
The USDA raised 2025/26 all wheat production by eight million bushels from the previous year to almost 1.93 billion. Ending stocks decreased by eight million bushels at 890 million.
The GIWA said wheat production in Western Australia is to fall 24 per cent due to dry conditions. Wheat output in the state, the country’s biggest producer, is forecast to come to 9.40 million tonnes compared to 12.45 million last year. Planted area is to step back to about 4.30 million hectares from last year’s 4.59 million.
The BAGE pegged wheat planting in Argentina at around 80 per cent complete.
