WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange were stepping back Thursday morning, following crude oil to the downside.
There were also losses in Malaysian palm oil and European rapeseed, as well as Chicago soybeans and soymeal. Meanwhile, soyoil tacked on small increases.
The July canola contract remained well above its major technical levels. The oilseed's crush margins expanded a little bit with the July position exceeding C$350 per metric ton above the futures. A year ago, it was around C$120 per metric ton.
Profit-taking may be behind some of the pressure on canola.
Prospects for a large carryover to the 2025-26 canola crop continued to loom over the market.
Statistics Canada reported 1.91 million metric tons of canola were delivered by farmers in March, up from 1.46 million metric tons a year ago. StatCan also said nearly 1.1 million metric tons of canola were crushed in March, compared to 1.02 million metric tons the previous March.
The Canadian dollar eased back on Thursday morning at 73.16 U.S. cents compared to Wednesday's close of 73.09.
Approximately 20,600 contracts had been traded by 9:47 a.m. EDT and prices in Canadian dollars per metric ton were:
Price Change
Canola Jul 761.60 dn 2.30
Nov 757.40 dn 2.30
Jan 762.80 dn 2.20
Mar 767.40 dn 1.60
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
04-30-26 1014ET
