---
title: "ICE Canola Midday: Profit-Taking Spurring Losses"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296637774.md"
description: "ICE Canola futures declined mid-session Friday due to profit-taking by speculative funds with large long positions. Analysts warned of potential downside if the market becomes overextended, noting farmers are well-sold. Additional pressure came from weaker soy and rapeseed prices, while AAFC raised the canola harvest forecast to 21.6 million tonnes and reduced carryover estimates."
datetime: "2026-08-21T16:10:12.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296637774.md)
  - [en](https://longbridge.com/en/news/296637774.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296637774.md)
generator: "portal-rs"
---

# ICE Canola Midday: Profit-Taking Spurring Losses

Winnipeg -- Profit-taking was pulling down Intercontinental Exchange canola futures lower at mid-session Friday.

An analyst said the speculative funds are "dictating prices" as they have a large long position. 

"Come harvest, you don't want to be long," the analyst said. 

He warned if the canola market becomes overextended, a great deal of selling will lead to a huge move to the downside. 

He also said farmers are doing very well, being adequately sold at this time. 

Additional pressure on canola was coming from declines in the Chicago soy complex and European rapeseed, while Malaysian palm oil pushed higher. Crude oil was slightly lower, putting some weight on the vegetable oils. 

Agriculture and Agri-Food Canada upped its call on the coming canola harvest by 600,000 tonnes to now 21.6 million. AAFC dropped The carryover for 2026-27 to 1.5 million tonnes from 2.07 million in its July report. Statistics Canada will provide its look at 2026-27 when it scheduled to issue its principal crop report on Sept. 16. 

The Canadian dollar was a pinch higher with the loonie at 72.62 U.S. cents late Friday morning, compared to Thursday's close of 72.57. 

Approximately 23,950 canola contracts were traded as of 11:32 a.m. EDT, with prices in Canadian dollars per metric tonne: 

  Price Change  Canola Nov 803.90 dn 16.50  Jan 813.10 dn 15.80  Mar 820.80 dn 14.20  May 825.10 dn 13.70   

Source: Glacier FarmMedia (Glen Hallick, news@marketsfarm.com, or 204-782-5944) 

(END) Dow Jones Newswires

August 21, 2026 12:01 ET (16:01 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**