ICE Morning Commentary: ICE Canola Rises After Canada Thanksgiving

WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange came out of the Canadian Thanksgiving Day weekend with positive momentum, overcoming a stronger Canadian dollar.

Chicago soyoil, European rapeseed and Malaysian palm oil were higher Tuesday. However, crude oil showed some weakness as the prospect of additional diesel supplies from Russia outweighed attacks on Riyadh's airport from Iran-backed Houthi rebels over the weekend.

The Alberta canola harvest was 56.3% complete as of Oct. 6, said the province's weekly crop report. The estimated yield for Alberta canola was 38.1 bushels per acre, while 89% of the crop was rated as 1 Can.

Most of Alberta and the southern half of Saskatchewan will be sunny but daytime high temperatures will be up to 11 degrees Celsius. Northern areas of both provinces will see rain and some flurries. In southern Manitoba, conditions will be cloudy and cool.

The Canadian dollar was up more than two-tenths of a U.S. cent compared with Friday's close. The Bank of Canada did not publish an exchange rate Monday due to Thanksgiving.

Nearly 56,800 contracts were traded. Prices in Canadian dollars per metric ton as of 9:53 a.m. ET:

Canola 
           Price      Change 
Nov       821.50     up 4.80 
Jan       835.10     up 5.30 
Mar       845.00     up 5.90 
May       848.40     up 5.60 
 

Source: Glacier FarmMedia, news@farmmedia.com

(END) Dow Jones Newswires

October 13, 2026 10:29 ET (14:29 GMT)