ICE Canola Correcting Lower in Early Trading

WINNIPEG, Manitoba--ICE canola futures were weaker Wednesday morning, correcting after Tuesday's rally.

Losses in Chicago soyoil accounted for some spillover selling pressure, although soybeans were firm.

Malaysian palm oil was also softer on the day, while crude oil and European rapeseed were mixed.

The U.S. Department of Agriculture forecast a 1.4 million-metric-ton increase in world rapeseed production 2026-27 at 96.9 million metric tons. They estimated Canada's crop would hold at 22.0 million metric tons.

Weather forecasts remain relatively favorable for spring seeding across much of Western Canada.

About 22,300 canola contracts had traded as of 9:49 a.m. EDT.

Prices in Canadian dollars per metric ton at 9:49 a.m. EDT:

 
           Price      Change 
Jul       748.00     dn 6.20 
Nov       759.30     dn 4.60 
Jan       767.40     dn 4.40 
Mar       773.10     dn 4.50 
 

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

(END) Dow Jones Newswires

05-13-26 1025ET