ICE Canola Posting Solid Gains in Morning Trading

ICE canola futures rose Friday morning, recovering Thursday's losses amid a sideways trading pattern. Middle East tensions supported crude oil and vegetable oil markets, boosting Chicago soyoil and European rapeseed. Canadian canola exports surged to 305,100 metric tons for the week ended July 12, raising year-to-date totals to 8.56 million metric tons. Production uncertainty and weather premiums further supported prices.

WINNIPEG, Manitoba--ICE canola futures were stronger Friday morning, taking back Thursday's losses as values remained stuck chopping around in a sideways trading pattern just below nearby highs.

The U.S. and Iran continued to trade attacks Friday, with the escalating conflict in the Middle East underpinning crude oil and world vegetable oil markets.

Chicago soyoil was up sharply in early trade, while European rapeseed futures were also stronger. However, Malaysian palm oil was slightly softer.

Canada exported 305,100 metric tons of canola during the week ended July 12, the Canadian Grain Commission reported. That was up sharply from the 52,500 metric tons exported the previous week, taking the crop-year-to-date total to 8.56 million metric tons. That compares with 9.23 million metric tons by the same point the previous year.

Production uncertainty and the need to keep a weather premium in the market remained supportive for canola.

About 15,800 canola contracts had traded as of 9:52 a.m. EDT.

Prices in Canadian dollars per metric ton at 9:52 a.m. EDT:

             Price      Change  Nov       794.10    up 10.60  Jan       803.10    up 10.90  Mar       807.60    up 10.20  May       808.60    up 10.40

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

(END) Dow Jones Newswires

July 17, 2026 10:30 ET (14:30 GMT)