Glacier FarmMedia — ICE canola futures were stronger on Friday, hitting their highest levels in two-weeks. Optimism following a recent Canadian trade mission to China provided support, with chart-based a positioning a feature.
A trade delegation to China had “constructive discussions” with Chinese officials, according to a statement from Prime Minister Mark Carney’s office.
November canola managed to settle right at its 20-day moving average, which was constructive from a technical standpoint.
A rally in Chicago soyoil and soybeans, despite relatively bearish production estimates released by the United States Department of Agriculture, also underpinned the canola market.
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ICE canola up at midday Friday
Glacier FarmMedia — The ICE Futures canola market was stronger at midday Friday, finding spillover support from advances in Chicago…
There were 48,562 contracts traded on Friday, which compares with Thursday, when 33,520 contracts changed hands. Spreading accounted for 31,550 of the contracts traded.
SOYBEAN futures at the Chicago Board of Trade were stronger on Friday, climbing higher despite relatively bearish production and stocks data from the United States Department of Agriculture.
The USDA raised its call on 2025/25 U.S. soybean production to 4.301 billion bushels. That was up by nine million bushels from August, as a small cut to average yields — now at 53.5 bushels per acre — was countered by increase in harvested area.
Soybean ending stocks for 2024/25 were left unchanged at 330 million bushels, while the 2025/26 carryout projection was up by 10 million bushels from August at 300 million bushels.
CORN also climbed higher following the USDA report.
Average U.S. corn yields were cut by 2.1 bu./ac. from August, now at 186.7 bu./ac. However, a 1.4 million-acre jump in area meant corn production was raised to 16.814 billion bushels. That would be a new record if realized and well above the 14.867 billion bushels grown in 2024/25.
Ideas that fungal disease issues across the Midwest could cut into the eventual yields and production provided support.
WHEAT futures were steady to higher, as tightening U.S. stocks countered an increase in world supplies.
U.S. wheat ending stocks for 2025/26 were lowered to 844 million bushels from 865 million in August. That compares with the 2024/25 carryout of 851 million bushels.
Meanwhile, world wheat ending stocks were revised higher by nearly four million tonnes from August, at 264.06 million tonnes.
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
