ICE Review : Canola Regains Positive Momentum

WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange recovered Monday's losses and ended Tuesday with solid gains.

An analyst said that numerous factors contributed to canola's rise such as a weaker Canadian dollar, seasonal trends and rising comparable oils.

Crude oil prices rose US$1.50 to US$3.10 per barrel after reports emerged that United States President Donald Trump was considering resuming attacks on Iran. Chicago soyoil and European rapeseed also made gains, while Malaysian palm oil was lower.

The U.S. Department of Agriculture released its monthly supply/demand estimates earlier today which also provided its first estimates for the 2026-27 crop year. Tighter projected ending stocks for grains and oilseeds resulted in higher prices, especially for wheat.

In the USDA's monthly global oilseeds report, Canadian canola production for 2026-27 is expected to be unchanged at 22 million tonnes. Exports are expected to rise by 600,000 tonnes at 8.2 million, while ending stocks would be up 100,000 tonnes at 3.126 million.

At mid-afternoon, the Canadian dollar lost one-quarter of a U.S. cent compared to Monday's close.

There were 46,813 canola contracts traded on Tuesday, compared to Monday when 53,996 contracts changed hands. Spreads accounted for 28,004 contracts in today's trade.

Settlement prices are in Canadian dollars per metric tonne.

 
           Price      Change 
Jul       754.20    up 10.80 
Nov       763.90    up 12.90 
Jan       771.80    up 11.80 
Mar       777.60    up 12.00 

Spread trade prices are in Canadian dollars:

 
Months    Prices                            Volume 
Jul/Nov   7.50 under to 9.80 under           7,849 
Jul/Jan   15.60 under to 17.70 under           279 
Jul/Mar   21.30 under to 23.40 under             3 
Nov/Jan   7.70 under to 8.30 under           3,892 
Nov/Mar   13.10 under to 14.20 under            95 
Nov/May   16.10 under to 17.80 under           201 
Jan/Mar   5.20 under to 6.40 under             981 
Jan/May   8.60 under to 9.50 under              50 
Mar/May   1.40 under to 3.30 under             520 
May/Jul   0.30 over to 1.10 under              106 
Jul/Nov   52.10 over to 47.70 over              26 
 

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

(END) Dow Jones Newswires

05-12-26 1517ET