ICE Review: Canola Prices, Production Down

WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange fell into negative territory on Wednesday after the release of new data from Statistics Canada. Prices for the Canadian oilseed were higher at the start of today's session.

StatCan's latest satellite imagery-based principal field crop report showed 2026-27 canola production at 22.1 million tonnes, down 0.8 per cent from the previous year. Yields are expected to drop by 8.3 per cent at 41.8 bushels per acre, but harvested area is set to increase by eight per cent at a record 23 million acres.

An analyst said the decline in production was not surprising, but the production figure was "heavy". The analyst also said there is the possibility of lower yields in StatCan's December survey-based report.

The Manitoba canola harvest advanced by 21 points at 36 per cent complete as of Sept. 14.

Crude oil prices dropped by approximately US$3 per barrel after the United States said a Saudi pipeline damaged by Iran-backed Houthi rebels will restart in a matter of days. Chicago soyoil and European rapeseed were down, while Malaysian palm oil was closed for a holiday.

At mid-afternoon, the Canadian dollar was down more than one-tenth of a U.S. cent compared to Tuesday's close.

There were 61,399 canola contracts traded on Wednesday, compared to Tuesday when 52,258 contracts changed hands. Spreads accounted for 39,360 contracts in today's trade.

Settlement prices are in Canadian dollars per metric tonne.

 
           Price      Change 
Nov       826.90     dn 2.40 
Jan       837.80     dn 3.10 
Mar       846.40     dn 4.10 
May       849.80     dn 5.60 

Spread trade prices are in Canadian dollars:

 
Months    Prices                            Volume 
Nov/Jan   10.70 under to 11.80 under         9,076 
Nov/Mar   19.50 under to 21.00 under           675 
Nov/May   22.90 under to 24.20 under           375 
Nov/Jul   19.70 under to 20.30 under             2 
Jan/Mar   8.40 under to 9.80 under           4,914 
Jan/May   12.00 under to 14.10 under         1,333 
Jan/Jul   9.00 under to 11.70 under             58 
Mar/May   3.20 under to 5.10 under           2,909 
Mar/Jul   0.20 over to 0.90 under               27 
May/Jul   3.40 over to 2.20 over               285 
Jul/Nov   62.70 over to 59.70 over              26 
 

Source: Commodity News Service Canada, news@marketsfarm.com

(END) Dow Jones Newswires

September 16, 2026 15:22 ET (19:22 GMT)