By Glen Hallick
Glacier FarmMedia – Intercontinental Exchange canola futures were weaker on Friday, pulled down by sharp declines in crude oil, Chicago soyoil and MATIF rapeseed.
With hopes for the United States and Iran to return to the bargaining table this weekend, crude oil fell back, putting pressure on the vegetable oils. Malaysian palm oil was also down, but Chicago soybeans managed small increases.
An analyst said caution is necessary in the current market until the situation in the Middle East is more clear.
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SOYBEAN futures at the Chicago Board of Trade were slightly higher on Friday, holding off the sharp declines in crude…
The July contract slid below its 50-day moving average but remained well ahead of its other technical levels.
Agriculture and Agri-Food Canada issued its April supply and demand estimates, with canola production for 2026-27 remaining at 19.2 million tonnes and ending stocks at 1.06 million.
Canola exports for the week ended April 12 were relatively steady at about 284,000 tonnes, the Canadian Grain Commission reported. That brought the cumulative exports to nearly 5.9 million tonnes, about 1.5 million behind last year’s pace.
The Canadian dollar was higher on Friday afternoon, with the loonie at 73.11 U.S. cents, compared to Thursday’s close of 72.94.
There were 86,753 canola contracts traded on Friday, compared to 82,503 on Thursday. Spreading accounted for 54,540 contracts traded.
Prices are in Canadian dollars per metric tonne:
Price Change
Canola May 697.40 dn 12.50
Jul 712.00 dn 12.30
Nov 711.60 dn 11.20
Jan 718.60 dn 11.20
