Glacier FarmMedia – Canola futures on the Intercontinental Exchange were mixed on Wednesday, amidst lower comparable oil prices and a stronger Canadian dollar.
Chicago soyoil ended the day higher despite trading lower for most of the session. An analyst said the rallies for canola and soyoil will eventually run out of steam. European rapeseed and Malaysian palm oil were down.
Crude oil was also mixed ahead of peace talks between the United States and Iran on Thursday. Reuters reported today that OPEC+ is considering raising oil output by 137,000 barrels per day in April.
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Statistics Canada said the January canola crush was at 1.05 million tonnes, compared to 1.01 million last year. Canola deliveries last month totalled 1.93 million tonnes, down 250,000 from January 2025.
At mid-afternoon, the Canadian dollar was up more than one-tenth of a U.S. cent compared to Tuesday’s close.
There were 66,715 canola contracts traded on Wednesday, compared to Tuesday when 75,315 contracts changed hands. Spreads accounted for 39,312 contracts in today’s trade.
Settlement prices are in Canadian dollars per metric tonne.
May 691.40 dn 0.20
Jul 701.80 unchanged
Nov 696.10 up 1.00
Jan 703.50 up 1.30
Spread trade prices are in Canadian dollars:
Mar/May 11.00 under to 12.50 under 4,342
Mar/Jul 22.00 under to 22.70 under 373
Mar/Nov 15.20 under to 17.40 under 1,128
Mar/Jan 22.60 under to 23.80 under 8
May/Jul 9.70 under to 10.90 under 7,450
May/Nov 3.40 under to 5.60 under 373
May/Jan 10.80 under to 13.30 under 68
Jul/Nov 7.40 over to 5.10 over 5,366
Jul/Jan 0.50 under to 1.70 under 28
Nov/Jan 6.90 under to 7.60 under 477
Nov/Mar 11.60 under to 12.70 under 6
Jan/Mar 4.30 under to 5.50 under 31
May/Jul 1.30 under to 1.50 under 6
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