Glacier FarmMedia -– Canola futures closed higher on Thursday while support from comparable oils varied.
Chicago soyoil was down, European rapeseed was up and Malaysian palm oil was mixed. Crude oil made small gains to recover a fraction of Wednesday’s losses.
An analyst said that despite recent optimism that Canada and China will resolve their trade issues soon, he said there is currently no timeline.
At mid-afternoon, the Canadian dollar was down more than one-tenth of a United States cent compared to Wednesday’s close.
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ICE Midday: Canola firm at midday
Glacier FarmMedia – ICE canola futures were slightly higher Thursday morning amid mixed sentiment from comparable oils. Chicago soyoil was…
There were 57,401 canola contracts traded on Thursday, compared to Wednesday when 51,825 contracts changed hands. Spreading accounted for 31,844 of the contracts traded.
January SOYBEANS at the Chicago Board of Trade reached its highest price since June 2024 on Thursday as the end of the United States government shutdown and optimism over exports lifted the market.
The U.S. Department of Agriculture will release a backlog of unreported daily sales due to the shutdown starting Friday. Weekly reports will be released twice per week until Jan. 2, 2026.
CONAB estimated the Brazilian soybean crop at a record 177.6 million tonnes. Exports were projected to rise 5.1 per cent from last year at 112.1 million tonnes.
The Solvent Extractors’ Association of India said the country’s 2024/25 palm oil imports dropped 15.9 per cent from the previous year at 7.58 million tonnes. Soyoil imports in the year jumped 59 per cent to a record 5.47 million tonnes, while sunflower oil purchases were down 16.3 per cent to 2.9 million tonnes.
December CORN saw its biggest one-day gain since Sept. 16, lifting it to its highest price since July 3.
The U.S. Energy Information Administration reported ethanol production averaged 1.075 million barrels per day during the week ended Nov. 7, down 48,000 BPD from the week before. Ethanol stocks were down 436,000 barrels at 22.219 million.
CONAB projected Brazil’s 2025-26 corn production at 138.84 million tonnes, up 560,000 from its October estimate.
A South Korean importer purchased 130,000 tonnes of corn in a tender overnight. Meanwhile, Taiwan bought 65,000 tonnes of U.S. corn.
The December contracts for all three major U.S. WHEAT varieties saw mostly steady.
The western U.S. Plains will see rain showers next week to ease dryness concerns.
The Rosario Grain Exchange said Argentina’s wheat crop is projected to reach a record 24.5 million tonnes, up 1.5 million from October’s estimate. The Buenos Aires Grain Exchange estimated the country’s wheat crop at 24 million tonnes, up two million from its previous estimate.
A South Korean importer purchased 75,000 tonnes of wheat in a tender last night.
SovEcon estimated the 2026 Russian wheat crop at 83.8 million tonnes, down four million from this year, due to less acreage.
Expana projected the European Union wheat crop at 136.8 million tonnes, up 400,000 from last month.
