Glacier FarmMedia -– Canola futures on the Intercontinental Exchange erased earlier gains and ended the session lower on Monday.
Soybean prices on the Chicago Board of Trade were down by double digits after the United States Department of Agriculture raised its ending stock estimates. Global soybean and soyoil ending stock estimates were also higher month-by-month.
Canadian Prime Minister Mark Carney will visit China tomorrow where trade and agriculture will be two of the topics up for discussion. China imposed 100 per cent tariffs of Canadian canola seed and meal, as well as a 75.8 per cent tariff on Canadian canola oil last year.
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Chicago soyoil and Malaysian palm oil were up, but European rapeseed was down. Crude oil was steady to higher to start the week amidst tensions in Iran and Venezuela.
At mid-afternoon, the Canadian dollar gained one-tenth of a U.S. cent compared to Friday’s close.
There were 50.914 canola contracts traded on Monday, compared to Friday when 69,248 contracts changed hands. Spreading accounted for 24,416 of the contracts traded.
The United States Department of Agriculture released its monthly supply/demand estimates, as well as its quarterly stocks and winter wheat seedings reports on Monday. Corn, soybeans and wheat saw increased ending stock projections, both domestically and worldwide.
CORN contracts were down nearly 25 U.S. cents per bushel on the Chicago Board of Trade on Monday after analysts expected a reduction to the carryout.
The USDA raised projected ending stocks by 198 million bushels from the December 2025 report at 2.227 billion with the average pre-report trade estimate at 1.985 billion.
The average yield was up 0.5 bushels per acre at 186.5, with 1.3 million more harvested acres at 91.3 million and production up 269 million bushels at 17.021 billion.
Global corn ending stocks were anticipated to rise by 15.76 million tonnes at 290.91 million.
Quarterly grain stocks as of Dec. 1, 2025 were 13.282 billion bushels, above trade estimates and up 1.207 billion from last year.
South Korean importers purchased 204,000 tonnes of 2025-26 corn in separate tenders on Monday. In another sale, 310,000 tonnes of corn were also sold to unknown destinations.
AgRural reported that Brazil’s first corn crop was estimated at 0.5 per cent harvested as of Jan. 8, while its safrinha (second) corn crop was 0.2 per cent planted.
SOYBEAN contracts continued to see price volatility after suffering double-digit losses on Monday.
Estimated U.S. ending stocks were up 60 million bushels at 350 million, compared to the average trade estimate of 295 million.
The average yield stayed put at 53 bu./ac., while acreage increased to 80.4 million acres and production was up nine million bushels at 4.262 billion.
Quarterly grain stocks showed 3.29 billion bushels, which was 190 million bushels larger than last year and 40 million more than the average trade estimate.
Global ending stocks for soybeans were up 2.04 million tonnes at 124.41 million.
China may have bought another 10 cargoes of U.S. soybeans on Friday for April-May delivery, said media reports.
AgRural estimated the Brazilian soybean crop at 0.6 per cent harvested, compared to 0.3 per cent at the same time last year.
WHEAT prices were lower on Monday, though losses were not as severe as those for corn and soybeans.
U.S. wheat ending stocks for 2025-26 were raised by 25 million bushels at 926 million, compared to the 896 million expected by analysts.
The average yield remained at 53.3 bu./ac. with harvested acres and production staying at 37.2 million acres and 1.985 billion bushels, respectively.
Quarterly grain stocks were 1.675 billion bushels, above the average estimate of 1.636 billion and 107 million bushels more than last year’s total.
Global ending stocks for wheat were projected at 278.25 million tonnes, an increase of 3.38 million from December.
U.S. winter wheat acres for the 2026-27 marketing year totalled 32.99 million acres, above the average trade estimate of 32.4 million and down 163,000 acres from last year. There were 23.5 million acres estimated for hard red wheat, 6.14 million for soft red wheat and 3.36 million for white wheat.
