WINNIPEG, Manitoba--There were losses in canola on the Intercontinental Exchange mid-morning Wednesday, in what a trader called a "tough market to trade." The trader said it's very difficult right now to get a good idea as to where canola prices are heading day-to-day.
"It gets to $625 (per tonne) and they think it's too high and they put it back down," he said.
The trader also pointed out that while the canola market is hurting from China being largely absent from the export market, farmers are selling to domestic crushers.
There was some support for canola coming from gains in the Chicago soy complex and MATIF rapeseed while Malaysian palm oil held firm. Declines in crude oil spilled over to weigh on the vegetable oils.
In yesterday's world oilseed report from the United States Department of Agriculture, it pegged the 2025/26 Canadian canola harvest at 22 million tonnes, compared to the 21.80 million tonnes Statistics Canada estimated last week.
The Canadian dollar was virtually unchanged at mid-session Wednesday, with the loonie at 72.25 U.S. cents.
Approximately 48,100 canola contracts were traded as of 11:40 am EST, with prices in Canadian dollars per metric tonne:
Price Change
Jan 614.90 dn 5.00
Mar 626.40 dn 5.40
May 638.60 dn 5.30
Jul 646.20 dn 5.90
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
12-10-25 1203ET
