Glacier FarmMedia — The ICE Futures canola market recovered from early losses to settle with small gains in the most active months as traders digested the latest tariff uncertainty out of the United States.
- The U.S. Supreme Court ruled 6-3 Friday that President Donald Trump’s broad global tariffs were illegal, sparking sharp losses in soybeans and soyoil amid uncertainty over what the ruling will mean for trade. Trump later expressed disappointment in the decision but said he would now impose a new 10 per cent global tariff under different legislation “over and above our normal tariffs already being charged.”
- Canola initially fell in sympathy with soybeans and soyoil but eventually found some independent strength as the session progressed.
- The May contract dipped below chart support at C$680 per tonne. The nearby technical signals remain pointing higher, and the early losses encouraged some buying interest that eventually took prices to new six-month highs.
- Canada exported 257,100 tonnes of canola during the week ended Feb. 15, which was up 38 per cent from the previous week, reported the Canadian Grain Commission. Crop-year-to-date canola exports of just over four million tonnes compare with 5.8 million at the same point in 2024/25.
- There were 74,948 contracts traded on Friday, which compares with Thursday when 84,036 contracts changed hands. Spreading was a feature, accounting for 51,256 of the contracts traded.
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Settlement prices in Canadian dollars per metric tonne.
Canola Mar 674.60 up 2.00
May 686.70 up 2.10
Jul 697.10 up 1.50
Nov 687.60 dn 1.20
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