ICE Canola Rising With Soy Complex at Midday

ICE Futures canola contracts rose at midday, supported by gains in the Chicago soy complex and speculative buying. Weather forecasts for heat in the Prairies and lingering flood effects added to bullish sentiment. Canadian canola exports dropped 79% week-over-week to 52,500 metric tons. Market attention turns to the USDA's upcoming supply/demand estimates, which could influence grain and oilseed prices before the close.

WINNIPEG, Manitoba--ICE Futures canola contracts were stronger at midday Friday, finding spillover support from advances in the Chicago soy complex.

Chart-based positioning ahead of the weekend was a feature, as speculators were back on the buy side of the market after Thursday's selloff.

Forecasts calling for excessive heat in parts of the Prairies added to the firmer tone, with some areas still dealing with the aftereffects of recent flooding.

Canada exported 52,500 metric tons of canola during the week ended July 5, which was down 79% from the previous week.

Crop-year-to-date exports with one month remaining at 8.26 million metric tons compared with 9.15 million metric tons at the same point the previous year.

The U.S. Department of Agriculture will release updated supply/demand estimates at 12:00 p.m. EDT, with any surprises in the data likely to set the tone in the grains and oilseeds ahead of the close.

An estimated 21,200 canola contracts traded as of 11:21 a.m. EDT.

Prices in Canadian dollars per metric ton at 11:21 a.m. EDT:

             Price      Change  Nov       777.60     up 3.60  Jan       786.60     up 3.60  Mar       792.50     up 4.60  May       795.20     up 5.80

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

(END) Dow Jones Newswires

July 10, 2026 11:50 ET (15:50 GMT)