ICE Midday : Canola Continues to Retreat

WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange were lower Friday as the oilseed is still reeling from Thursday's principal field crop estimates from Statistics Canada.

StatCan projected the 2025-26 canola crop at a record 21.8 million tonnes, but an analyst said there is a chance that figure may be understated. The January contract also is approaching late-September, early-October lows while staying above the psychological level of C$620 per tonne.

Chicago soyoil, European rapeseed and Malaysian palm oil were higher. Crude oil also was up as Russia-Ukraine peace talks stall and tensions grow between the U.S. and Venezuela.

The Canadian dollar added one half of a U.S. cent compared with Thursday's close.

About 38,700 canola contracts have traded at 11:12 a.m. ET. Prices in Canadian dollars per metric tonne:

Canola 
           Price      Change 
Jan       621.20     dn 3.80 
Mar       635.10     dn 4.10 
May       647.90     dn 4.10 
Jul       656.00     dn 4.20 
 

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

(END) Dow Jones Newswires

12-05-25 1144ET