Glacier FarmMedia — ICE Futures canola contracts continued their downward slide on Friday, as the market lacked any supportive fundamental news.
- Weekly Canadian canola exports of 57,400 tonnes were down by 80 per cent from the previous week in the latest Canadian Grain Commission data. Crop year-to-date exports at 2.4 million tonnes compares with 4.2 million tonnes at the same point a year ago.
- Losses in the Chicago soy complex accounted for some spillover selling pressure. European rapeseed and Malaysian palm oil were also lower.
- Bearish technical signals contributed to the declines, with the move below C$600 per tonne in the most-active March contract encouraging additional speculative selling.
- However, domestic crusher demand underneath the market provided some support. Processor demand remains solid, with domestic disappearance through 19 weeks of the 2026/27 marketing year at 4.45 million tonnes running in line with the year-ago pace.
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ICE canola pulls back
Glacier FarmMedia – Canola futures on the Intercontinental Exchange approached the weekend in negative territory, with the March contract dropping…
- Canola was also looking oversold by some chart measures and due for a correction.
- An estimated 31,700 canola contracts traded as of 10:54 CST.
Prices in Canadian dollars per metric tonne at 10:54 CST:
Canola Jan 579.50 dn 8.80
Mar 591.20 dn 9.00
May 603.80 dn 8.70
Jul 612.50 dn 9.20
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