Glacier FarmMedia -– Canola futures on the Intercontinental Exchange were lower after choppy trade throughout the day.
An analyst said there was “lots of resistance” as January canola approached the C$650 per tonne mark. On the other hand, January Chicago soyoil could soon break above 53 U.S. cents per pound, which may lift canola prices.
Chicago soyoil, European rapeseed and Malaysian palm oil were up. Crude oil was slightly lower as delegates from the United States and Russia met in Moscow today to discuss an end to Russia’s invasion of Ukraine.
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ICE Midday: Canola holds steady
Glacier FarmMedia – Canola futures on the Intercontinental Exchange were virtually unchanged in the middle of Tuesday trading as trading…
Statistics Canada will release its principal field crop estimates on Dec. 4, with many observers expecting canola production to be greater than the 20.03 million tonnes estimated in September.
At mid-afternoon, the Canadian dollar was up one-tenth of a U.S. cent compared to Monday’s close.
There were 52,116 canola contracts traded on Tuesday, compared to Monday when 58,283 contracts changed hands. Spreading accounted for 37,180 of the contracts traded.
WINNIPEG, Dec. 2 (MarketsFarm) – March CORN closed five cents higher on the Chicago Board of Trade on Tuesday after trading in a 10-cent range.
The central United States was forecast to be clear on Tuesday with colder-than-normal temperatures. Meanwhile, rain was expected along the eastern seaboard from Pennsylvania to northern Florida.
The U.S. Department of Agriculture estimated 2025-26 Ukrainian corn production to increase by 15 per cent on the year at 31 million tonnes, with 25 per cent more exports at 25 million tonnes.
The U.S. Renewable Fuels Association on Monday urged the Trump administration to implement reciprocal duties on Chinese agricultural imports, saying that China failed to satisfy commitments made in a 2019 trade agreement to increase trade into China for U.S. ethanol and distillers grains.
WHEAT prices were higher after consecutive days of losses. Both March Chicago soft and Kansas City hard red contracts were below their 20-day averages.
Kansas reported its winter wheat crop improved four points from the week before at 66 per cent good to excellent.
Algeria issued a tender of 50,000 tonnes of soft milling wheat with a Wednesday deadline. A South Korean importer bought 65,000 tonnes of wheat in an overnight tender.
The USDA estimated 2025-26 Ukrainian wheat production at 22.8 million tonnes, but exports since July fell by 23 per cent at 4.7 million due to a delayed harvest and new tariffs introduced by the European Union.
The EU estimated wheat exports for the 2025-26 marketing year so far at 9.66 million tonnes, down 480,000 from last year.
FranceAgriMer rated 97 per cent of the French soft wheat crop as good to excellent on Nov. 24, down one point from a week earlier but up from 88 per cent last year. Soft wheat and durum wheat planting were 98 per cent and 80 per cent complete, respectively.
The Russian Ministry of Agriculture cut its wheat export rate on Monday from 232.3 rubles (C$4.19) per tonne to 8.9 rubles (C$0.16)/tonne. The new rate will be in effect from Dec. 3 to 9.
Turkey lifted its ban on Russian wheat purchases last weekend, buying 300,000 tonnes. The ban was in effect beginning in February 2023.
January SOYBEANS traded lower for the second straight session and reached its lowest point in three sessions.
While northern Brazil is forecasted to see favourable weather this week, southern Brazil and Argentina will see light rain followed by dry conditions.
Five Brazilian soy exporters were banned from shipping soybeans into China last week after stopping a cargo of 69,000 tonnes from entering the country. Pesticide-treated wheat was found in the ship’s cargo hold. The exporters were two Cargill plants and one each from Louis Dreyfus, CHS Agronegocio and 3Tentos.
The European Union estimated soybean imports since July 1 at 4.97 million tonnes, down 780,000 from the same period last year.
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