WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange were slightly lower in the middle of Wednesday trading following the lead of comparable oils.
Despite canola's negative sentiment, a trader said that there is still plenty of support behind the oilseed citing high crude oil prices and rising grain and oilseed prices in the United States.
Crude oil was down US$1 to US$2 per barrel as U.S. President Donald Trump visits Chinese President Xi Jinping. Chicago soyoil and Malaysian palm oil were also lower, while European rapeseed was higher.
The U.S. Department of Agriculture's monthly global oilseeds report released on Tuesday estimated Canadian canola production for 2026-27 at 22 million tons, unchanged from the previous year. Exports are expected to rise by 600,000 tons at 8.2 million, while ending stocks would be up 100,000 tons at 3.126 million.
The Canadian dollar was up less than one-tenth of a U.S. cent compared with Tuesday's close.
About 23,300 canola contracts have traded at 11:53 a.m. ET. Prices in Canadian dollars per metric ton:
Price Change
Jul 751.40 dn 2.80
Nov 763.30 dn 0.60
Jan 770.90 dn 0.90
Mar 776.90 dn 0.70
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
05-13-26 1222ET
