ICE Canola Turns Higher in Early Trading
WINNIPEG, Manitoba--Intercontinental Exchange canola was on the rise Thursday morning, turning around during the overnight session.
Crude oil spiked after seven oil tankers in the Strait of Hormuz were damaged or on fire. The spillover pushed up values for the Chicago soy complex, European rapeseed and Malaysian palm oil.
Thursday was forecast to bring sunny skies and above normal temperatures across most of the Prairies. Cooler temperatures and rain will begin moving eastward across the region on Friday.
The Canadian Grain Commission is scheduled to issue its grain statistics weekly report later today. Canola exports for 2026-27 have been ahead of those a year ago.
There was a little downward movement in the canola crush margins with the nearby positions at C$288.60 to C$275.60 per tonne above the futures.
The January canola contract remained below most of its major moving averages, which put additional pressure on the Canadian oilseed's values.
The Canadian dollar bumped up on Thursday morning with the loonie at 71.24 U.S. cents, compared with Wednesday's close of 71.14.
Approximately 33,350 contracts had been traded by 9:39 EDT and prices in Canadian dollars per metric ton were:
Price Change
Nov 780.70 up 8.70
Jan 794.70 up 9.20
Mar 805.80 up 9.20
May 812.90 up 9.30
Source: Glacier FarmMedia, news@farmmedia.com
(END) Dow Jones Newswires
October 22, 2026 10:22 ET (14:22 GMT)
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