WINNIPEG, Manitoba--WINNIPEG--ICE Futures canola contracts were holding onto small gains at midday Thursday, seeing some consolidation after rallying sharply higher on Wednesday.
Crude oil had hit fresh four-year highs in overnight trade but was backing away from those levels at midday.
Expectations for increased demand for vegetable oils from the biodiesel sector remained supportive. Chicago soyoil futures were higher, although European rapeseed and Malaysian palm oil were softer on the day.
Historically wide crush margins and bullish chart signals also underpinned canola.
Canadian oilseed processors crushed 1.097 million tonnes of canola in March 2026, which was up by seven percent from the same month a year ago, reported Statistics Canada. The total crush through eight months of the marketing year, at 8.16 million tonnes was up by four per cent on the year.
Large old crop supplies remained a bearish influence, although attention in the markets is shifting to new crop production prospects.
An estimated 37,800 canola contracts traded as of 11:43 EDT.
Prices in Canadian dollars per metric tonne at 11:43 EDT:
Canola Price Change
Jul 764.80 up 0.90
Nov 760.60 up 0.90
Jan 766.10 up 1.10
Mar 770.10 up 1.10
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
04-30-26 1226ET
