ICE Canada Morning Comment: Canola on the Rise

WINNIPEG, Manitoba--Intercontinental Exchange canola futures were higher near the end of the overnight session on Thursday morning. Trading resumed during the evening after the day session was closed for Remembrance Day.

Canola was playing catch-up with the strong gains in Chicago soyoil and modest increase in the soybeans. They had continued to climb on the bullish reaction to Tuesday's supply and demand estimates from the United States Department of Agriculture.

The USDA also issued its world oilseed report on Tuesday, in which it sliced 10,000 tonnes from its call on Canadian canola ending stocks for 2026-27, now at 2.189 million tonnes.

Otherwise, the department kept production at 22.5 million tonnes, exports at 7.85 million and domestic use at 14.5 million.

The market will get a better handle on Canada's canola output when Statistics Canada issues its production report on Dec. 4.

Crude oil was up Thursday morning, with spillover finding its way into the vegetable oils. That generated gains in Malaysian palm oil, but European rapeseed was down slightly.

The Canadian dollar was weaker on Thursday morning with the loonie at 70.22 U.S. cents, compared to Tuesday's close of 70.52.

Approximately 24,650 contracts had been traded by 9:19 EST and prices in Canadian dollars per metric tonne were:

 
           Price      Change 
Jan       777.50     up 7.10 
Mar       788.00     up 7.00 
May       795.50     up 7.00 
Jul       797.20     up 6.80 
 

Source: Glacier FarmMedia, news@farmmedia.com

(END) Dow Jones Newswires

November 12, 2026 09:44 ET (14:44 GMT)