ICE Review : Canola, Crude Oil in the Red

WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange continued their up-and-down price movement and closed lower on Wednesday with comparable oils also showing negative sentiment.

Despite today's losses, an analyst said canola still has plenty of support from high crude oil prices and rising grain and oilseed prices.

Crude oil was lower as United States President Donald Trump began his visit with Chinese President Xi Jinping in Beijing. OPEC announced it trimmed its global 2026 demand forecast. Chicago soyoil and Malaysian palm oil were lower, while European rapeseed made gains.

At mid-afternoon, the Canadian dollar was steady compared to Tuesday's close.

There were 55,415 canola contracts traded on Wednesday, compared to Tuesday when 46,813 contracts changed hands. Spreads accounted for 31,060 contracts in today's trade.

Settlement prices are in Canadian dollars per metric tonne.

 
           Price      Change 
Jul       747.80     dn 6.40 
Nov       759.70     dn 4.20 
Jan       767.90     dn 3.90 
Mar       773.80     dn 3.80 

Spread trade prices are in Canadian dollars:

 
Months    Prices                            Volume 
Jul/Nov   9.30 under to 12.30 under         12,630 
Jul/Jan   18.20 under to 20.10 under           103 
Jul/Mar   24.00 under to 26.00 under             7 
Nov/Jan   7.40 under to 8.30 under           2,027 
Nov/Mar   13.00 under to 14.10 under            71 
Nov/May   15.40 under to 16.30 under            17 
Nov/Jul   15.40 under to 16.40 under             4 
Jan/Mar   5.40 under to 6.00 under             539 
Jan/May   8.10 under to 8.20 under               1 
Mar/May   1.70 under to 2.50 under              91 
Mar/Jul   2.30 under to 2.40 under               1 
May/Jul   0.10 under to 0.60 under              28 
Jul/Nov   53.80 over to 52.60 over              11 
 

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

(END) Dow Jones Newswires

05-13-26 1518ET