ICE Canola Futures Still On the rise

WINNIPEG, Manitoba–Canola futures on the Intercontinental Exchange were higher Monday, but trading had been to both sides of unchanged in thin and choppy activity.

U.S. markets were closed for Martin Luther King Jr. Day, limiting the volume in canola.

Increases in Malaysian palm oil were lending support to canola, but small losses in MATIF rapeseed limited the upside. Crude oil was relatively steady, offering little direction to vegetable oils.

The Canada-China trade deal announced Friday continued to underpin canola futures. A Chinese importer already bought 60,000 metric tons of canola from Canada, shortly after that agreement was signed, according to a report.

With that deal in mind, an analyst said Agriculture and Agri-Food Canada’s projection of eight million tons in canola exports for 2025/26 could still be met. AAFC is scheduled to release its monthly supply and demand report this week.

The Canadian dollar was stronger on Monday, with the loonie at 72.14 U.S. cents compared with Friday’s close of 71.88.

Approximately 18,150 canola contracts were traded as of 11:31 am EST, with prices in Canadian dollars per metric ton:

Canola     Price   Change 
   May    652.00  up 3.00 
   Jul    657.50  up 2.80 
   Nov    650.40  up 1.30 
 

Source: Commodity News Service Canada, news@marketsfarm.com

(END) Dow Jones Newswires

01-19-26 1253ET