WINNIPEG, Manitoba--Intercontinental Exchange canola futures were on the rise Friday morning, stepping away from Thursday's declines.
Gains in Malaysian palm oil, MATIF rapeseed, as well as Chicago soybeans and soyoil were lending support to canola. There were slight declines in Chicago soymeal. Crude oil was virtually unchanged, offering little direction to the vegetable oils.
However, the January canola contract remained behind its moving averages, putting pressure on the oilseed.
Thursday's production estimates from Statistics Canada pegged 2025/26 canola production at a record 21.80 million tonnes. The issue now is exports as China isn't buying Canadian canola.
The Canadian Grain Commission reported canola exports for the week ended Nov. 30 of 159,000 tonnes, jumping nearly 63% from the previous week. However, cumulative exports of about 2.09 million tonnes were more than 46% less than a year ago.
The Canadian dollar was stronger Friday morning, with the loonie improving to 71.99 U.S. cents, compared with Thursday's close of 71.67.
About 16,600 contracts had traded by 9:39 a.m. ET and prices in Canadian dollars per metric tonne were:
Canola
Price Change
Jan 628.60 up 3.60
Mar 642.40 up 3.20
May 655.20 up 3.20
Jul 663.70 up 3.50
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
12-05-25 1004ET
