ICE Midday : ICE Canola Lower After StatCan Report

WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange continued their downturn Thursday after Statistics Canada released bearish figures for the oilseed.

StatCan reported 2025-26 canola production at a record 21.80 million tonnes, 1.77 million more than the September estimate and 2.56 million more than last year's crop.

An analyst said the production estimate was larger than expected and he predicted canola prices will struggle as long as China remains absent from the Canadian export program.

Chicago soyoil, European rapeseed and Malaysian palm oil were lower. Crude oil was up after Ukrainian attacks on Russian oil infrastructure.

The Canadian dollar added less than one-tenth of a U.S. cent compared with Wednesday's close.

About 56,100 canola contracts have traded at 11:15 a.m. ET. Prices in Canadian dollars per metric tonne:

Canola 
           Price      Change 
Jan       623.50     dn 5.70 
Mar       637.60     dn 5.10 
May       650.10     dn 4.70 
Jul       658.00     dn 4.10 
 

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

(END) Dow Jones Newswires

12-04-25 1146ET