By Glen Hallick, MarketsFarm
Glacier FarmMedia MarketsFarm – Intercontinental Exchange canola futures climbed higher on Thursday as traders look to exit the January contract.
Increases in Chicago soybeans and soymeal as well as those in MATIF rapeseed supported prices, but declines in Chicago soyoil and Malaysian palm oil tempered the upside. Losses in crude oil also pressured the vegetable oils.
An analyst said the usual Christmas lull was beginning to set in and any notable movement was unlikely to happen unless there were major geopolitical or weather events.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – There were small gains in canola on the Intercontinental Exchange mid-morning Thursday,…
The analyst cautioned that despite the canola crush running at capacity, there’s a record harvest of the oilseed still facing a lack of export prospects as China remains on the sidelines. The analyst suggested the 2025/26 canola carryout could reach four million tonnes.
The Canadian dollar was stronger on Thursday afternoon with the loonie at 72.59 U.S. cents compared to Wednesday’s close of 72.28.
There were 88,166 contracts traded on Thursday, compared to 73,406 on Wednesday. Spreading accounted for 70,598 contracts traded.
Prices are in Canadian dollars per metric tonne:
Price Change
Canola Jan 621.30 up 5.90
Mar 632.80 up 6.00
May 644.00 up 5.60
Jul 650.90 up 5.10
SOYBEAN futures at the Chicago Board of Trade were slightly higher on Thursday, following positive reports from United States government agencies.
The U.S. Department of Agriculture announced two private sales of 2025/26 soybeans, with 264,000 tonnes to China and 226,000 tonnes to unknown destinations.
In delayed export sales reports, U.S. soybeans for the week ended Nov. 13 came to 695,598 tonnes, about mid-range among the market predictions.
The USDA released its crush reports for September and October. The September soybean crush was 204.93 million bushels, up 9.9 per cent from a year ago. The October crush set a new record for any month at 237 million bushels, also a 9.9 per cent increase from a year ago.
The U.S. Census Bureau issued delayed monthly export reports. September soybean shipments tallied 2.86 million tonnes, down 8.3 per cent from a year ago but still the second largest amount in five years.
Favourable weather conditions in Argentina and Brazil will benefit their crops.
Although Conab cut its forecast on Brazil’s 2026/27 soybean crop by 550,000 tonnes it’s still expected to reap a record 177.12 million tonnes.
China’s state stockpiler, Sinograin, sold 397,000 tonnes of imported soybeans in an auction on Thursday.
CORN futures were higher on Thursday, due export sales and shipments.
There was a flash sale for 186,000 tonnes of 2025/26 U.S. corn to unknown destinations.
Delayed USDA sales data said corn export sales were 2.38 million tonnes and above trade predictions.
The Census Bureau reported 6.98 million tonnes of corn were exported in September, ballooning 60.9 per cent from the previous September.
The USDA said the September corn grind came to 435.26 million bushels, down 2.7 per cent from the previous September. The October grind increased 2.8 per cent from a year ago at 476.40 million bushels.
Conab tacked on 40,000 tonnes to its projection on the 2026/27 Brazil corn crop, now at 138.88 million tonnes. The country’s second crop is to account for 79.5 per cent of total production.
WHEAT futures were mixed on Thursday, with increases for Minneapolis and Chicago while Kansas City eased back.
U.S. wheat exports in September were 3.23 million tonnes, the most for a September in 12 years.
The USDA said wheat export sales were 850,418 tonnes, well exceeding trade guesses.
The USDA reported 231.40 million bushels of wheat were used for flour in third quarter of this year, up one million from a year earlier.
