ICE Canola Off to Rough Start

WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange tumbled on Monday morning, falling below their major averages.

Crude oil prices jumped after United States President Donald Trump rejected Iran's proposal over the weekend to reopen the Strait of Hormuz. However, Trump expects U.S. negotiators to return to the bargaining table this week.

Chicago soyoil was steady, while European rapeseed was lower and Malaysian palm oil was mixed.

Saskatchewan and Alberta will see sunny skies today with daytime temperatures in the late-teens to 20 Celsius. In southern Manitoba, there is rain and cooler temperatures in the forecast.

Alberta's canola harvest was 14.9 percent complete as of Sept. 22, according to its latest crop report released on Sept. 25.

Agriculture and Agri-Food Canada raised canola ending stocks for 2026-27 to 1.979 million tonnes, from 1.504 million tonnes the previous month. The old crop carryout of 1.900 million tonnes was up by 175,000 tonnes from the August estimate.

Projected Canadian canola exports for 2026-27 were lowered to 7.700 million tonnes from 8.000 million tonnes in August, which compared with 8.956 million tonnes in 2025-26.

The Canadian dollar was down one-tenth of a U.S. cent compared to Friday's close.

Nearly 28,300 contracts were traded. Prices in Canadian dollars per metric ton as of 8:50 CDT:

 
           Price      Change 
Nov       813.50    dn 15.10 
Jan       826.00    dn 15.40 
Mar       834.10    dn 14.80 
May       837.50    dn 13.90 
 

Source: Glacier FarmMedia, news@farmmedia.com

(END) Dow Jones Newswires

September 28, 2026 10:38 ET (14:38 GMT)