ICE Canada Morning Comment : Canola Swings Higher

WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange were posting increases on Monday morning, amid mixed support from comparable oils.

Crude oil was higher due to the lack of diplomatic movement between the United States and Iran over the weekend. Spillover found its way into MATIF rapeseed as well as Chicago soybeans and soyoil. However, soyoil was slightly lower while declines in Malaysian palm oil were larger.

On Friday, the U.S. Department of Agriculture attache in Ottawa issued their projections on Canada's canola crop for 2026-27.

The attache forecast production at 20.11 million tonnes, compared to 19.2 million tonnes expected by Statistics Canada.

They also differ on 2026-27 ending stocks, with the attach, at 2.63 million tonnes versus StatCan's 1.06 million.

The Canadian dollar was stronger on Monday morning, with the loonie at 73.51 U.S. cents, compared to Friday's close of 73.11.

Approximately 11,400 contracts had been traded by 9:37 EDT and prices in Canadian dollars per metric tonne were:

 
           Price      Change 
May       731.40     up 2.70 
Jul       744.60     up 2.40 
Nov       740.30     up 2.50 
Jan       745.60     up 1.60 
 

Source: Commodity News Service Canada, [e-mail]

(END) Dow Jones Newswires

04-27-26 0959ET