ICE review: Canola Weakens on Seasonal Harvest Pressure

WINNIPEG, Manitoba--The ICE Futures canola market was weaker on Friday, hitting fresh seven-week lows as steady farmer selling and bearish technical signals weighed on prices.

--November canola was down by C$2.90 at C$798.80 per ton, with the move below C$800 per ton bearish from a chart standpoint.

--Losses in the Chicago soy complex and European rapeseed contributed to the softer tone in canola, although Malaysian palm oil was firmer to end the week.

--Seasonal harvest pressure remained a bearish influence, as warm and dry forecasts across most of the Prairies this weekend should allow farmers to make good progress bringing in the last of the crop.

--Farmers delivered 620,100 tons of canola into the commercial pipeline during the week ended Oct. 11, reported the Canadian Grain Commission. While that was down by 19% from the previous week, crop-year-to-date deliveries at 4.45 million tons are 28% ahead of last year's pace.

--Weekly Canadian canola exports at 158,300 tons were down from 248,400 tons the previous week. Crop-year-to-date exports are up 44% on the year at 1.38 million tons through 10 weeks.

--There were 113,995 contracts traded on Friday, which compares with Thursday when 107,034 contracts changed hands. Spreading accounted for 81,200 of the contracts traded.

 
Settlement prices in Canadian dollars per metric ton. 
 
Canola         Price         Change 
 Nov 26        798.80        -2.90 
 Jan 27        811.60        -2.10 
 Mar 27        821.50        -2.10 
 May 27        826.70        -1.80 
 
Spread trade prices are in Canadian dollars and the volume represents the number of spreads: 
 
Months                   Prices                 Volume 
Nov/Jan        11.80 under to 13.40 under       24,100 
Nov/Mar        21.70 under to 23.50 under          743 
Nov/May        26.50 under to 27.70 under           12 
Nov/Jul        23.40 under to 25.00 under          106 
Nov/Nov        17.10 over to 17.00 over              9 
Jan/Mar         9.60 under to 10.20 under       11,081 
Jan/May        14.60 under to 15.40 under          232 
Jan/Jul        14.70 under to 14.70 under            1 
Jan/Jan        29.10 over to 27.20 over            242 
Mar/May         4.30 under to 5.50 under         3,051 
Mar/Jul         4.60 under to 5.70 under            23 
May/Jul         1.50 over to 0.30 under            721 
May/Nov        37.80 over to 37.30 over              8 
Jul/Nov        37.70 over to 35.90 over            257 
Nov/Jan         1.50 under to 2.00 under            14 
 

Source: Glacier FarmMedia, news@farmmedia.com

(END) Dow Jones Newswires

October 16, 2026 16:02 ET (20:02 GMT)