Glacier FarmMedia -– Canola futures on the Intercontinental Exchange increased on Monday, reversing course from earlier losses.
Chicago soyoil and Malaysian palm oil were on the rise, while European rapeseed traded on both sides of unchanged. Meanwhile, crude oil prices were slightly higher despite oversupply fears.
An analyst said a lack of export demand continued to put pressure on canola prices. As long as there is no threat to the Brazilian soybean crop, he said canola prices will be rangebound in the coming weeks.
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ICE Midday: Canola down, comparable oils mixed
Glacier FarmMedia – Canola futures on the Intercontinental Exchange were slightly lower in the middle of Monday trading amidst mixed…
Markets will be closed on Tuesday due to Remembrance Day in Canada and Veterans Day in the United States.
At mid-afternoon, the Canadian dollar advanced more than one-tenth of a U.S. cent compared to Friday’s close.
There were 33,255 canola contracts traded on Monday, compared to Friday when 33,061 contracts changed hands. Spreading accounted for 20,330 of the contracts traded.
January CORN on the Chicago Board of Trade posted its first gain in three sessions on Monday.
The United States Department of Agriculture reported 1.425 million tonnes of corn were exported during the week ended Nov. 6, down 16.8 per cent from the previous week but 76.5 per cent above the same week last year. So far this marketing year, 13.725 million tonnes were shipped, up 65.7 per cent from one year ago.
Analysts have estimated the U.S. corn harvest to be between 88 per cent and 92 per cent complete. The USDA will release its November crop production and World Agriculture Supply and Demand Estimates on Friday.
The Buenos Aires Grain Exchange estimated the Argentine corn crop to be 36 per cent planted, down 2.7 points from last year. Crop conditions were rated 79 per cent good to excellent.
AgRural reported Brazil’s first corn crop at 72 per cent planted in the country’s south-central region, in line with last year’s pace.
January SOYBEANS rose for the second straight session on Monday. With Friday’s gains, the contract nearly erased its losses from Thursday.
The USDA tallied soybean export inspections at 1.089 million tonnes, 10.5 per cent more than the previous week but down 53.9 per cent from last year. In 2025-26, 8.889 million tonnes were exported, 42 per cent below last year.
The U.S. soybean harvest was estimated to be between 93 per cent and 96 per cent complete.
The BAGE estimated the Argentine soybean crop to be 4.4 per cent planted, down four points from last year.
AgRural reported Brazil’s soybean planting progress at 61 per cent completion as of Nov. 6, down six points from one year earlier.
January Chicago soft and Kansas City hard red WHEAT rebounded from Friday’s losses, while Minneapolis spring extended its rally to three sessions.
A total of 290,513 tonnes of U.S. wheat were exported, down 17.1 per cent from the previous week and down 17.9 per cent from last year. Marketing year shipments totaled 12.115 million tonnes, up 19.2 per cent from last year.
The U.S. winter wheat crop was estimated to be 93 per cent to 97 per cent harvested. Meanwhile, 77 per cent to 81 per cent of the crop has emerged.
Limited rains in the western U.S. Plains are expected in six to 10 days, providing slight improvement to soil moisture.
China will remove an additional 15 per cent retaliatory levy on U.S. wheat, said a finance ministry notice. China booked two cargoes of U.S. wheat, the first such purchases since October last year. The purchases of around 120,000 tonnes for December shipment include one cargo of U.S. soft white wheat and one of spring wheat, Reuters reported.
The BAGE pegged Argentina’s wheat harvest at 11.6 per cent complete.
FranceAgriMer said French soft wheat planting advanced 11 points at 79 per cent finished as of Nov. 3. French durum was 23 per cent planted.
