Glacier FarmMedia -– Canola futures on the Intercontinental Exchange were down on Friday, with the January contract falling to its lowest level in three months, below its major moving averages and its psychological price level of C$620 per tonne.
Statistics Canada released its principal field crop estimates on Thursday, projecting this year’s canola crop at a record 21.8 million tonnes. However, an analyst said that figure may be understated.
Chicago soyoil was down while European rapeseed and Malaysian palm oil were higher. Crude oil also moved up as Russia-Ukraine peace talks stalled and tensions grew between the United States and Venezuela.
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Glacier FarmMedia – Canola futures on the Intercontinental Exchange were lower on Friday as the oilseed is still reeling from…
At mid-afternoon, the Canadian dollar was up six-tenths of a U.S. cent compared to Thursday’s close.
There were 88,468 canola contracts traded on Friday, compared to Thursday when 93,401 contracts changed hands. Spreading accounted for 63,634 of the contracts traded.
SOYBEANS saw their January contract drop to its lowest level since Nov. 6, but managed to hold above US$11 per bushel.
The United States Department of Agriculture reported a private export sale for 462,000 tonnes to China this morning, taking their total known sales to 2.85 million tonnes this year.
Ahead of the USDA’s supply/demand estimates on Dec. 9, the trade’s projections for 2025-26 U.S. soybean carryout ranged from 250 million to 385 million bushels, with an average guess of 309 million. The USDA’s November estimate was 290 million.
Brazil’s November soybean exports totalled 4.2 million tonnes, up 64.4 per cent from last year, said the country’s ag ministry.
March CORN ended Friday lower, having alternated between daily gains and losses over the past four sessions.
Analysts are expecting 2025-26 corn carryout at a range of 2.037 billion and 2.376 billion bushels with an average guess of 2.166 billion. USDA’s November estimate was 2.154 billion.
Brazil’s ag ministry reported November corn exports at 5.03 million tonnes, down 22.6 per cent from last year.
March Minneapolis spring WHEAT halted its two-day downturn, while Chicago soft and Kansas City hard red were lower after a week of up-and-down activity.
The trade projected U.S. wheat ending stocks from 846 million to 906 million bushels with an average guess of 893 million. The USDA’s November estimate was 901 million.
FranceAgriMer reported the French soft wheat crop as 99 per cent planted as of Dec. 1. The crop was rated 96 per cent good to excellent, down one point from the previous week.
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