The ICE Futures canola market continued its downward slide of the past week on Wednesday, finding direction from a selloff in the Chicago soy complex as traders took some risk premiums out of the oilseed markets. The losses came despite gains in crude oil, amid shifting sentiment in the Middle East.

- Improving weather forecasts for soybean crops in the United States weighed heavily on the soy complex, with that selling spilling into the Canadian canola market.

- Ample canola supplies and the looming harvest added to the declines. Prices remain historically high, despite the recent retreat, and an analyst expected farmers were locking in some pricing.

- Gains in crude oil tempered the declines, amid increased tensions in the Middle East.

- November canola was down C$11.40 at C$771.60 per tonne, settling just above its 50-day moving average of C$770.40 per tonne.

- There were 50,443 contracts traded on Wednesday, which compares with Tuesday when 59,535 contracts changed hands.

Spreading accounted for 20,716 of the contracts traded.

  Settlement prices in Canadian dollars per metric tonne.  Canola Nov 771.60 dn 11.70  Jan 780.90 dn 11.70  Mar 787.90 dn 11.10  May 792.70 dn 10.60  Spread trade prices are in Canadian dollars and the volume  represents the number of spreads:  Nov/Jan 8.80 under to 9.40 under 5,813  Nov/Mar 15.30 under to 16.30 under 147  Nov/May 19.80 under to 21.10 under 5  Jan/Mar 6.10 under to 7.10 under 2,730  Jan/May 10.60 under to 11.90 under 28  Jan/Jul 10.20 under to 11.20 under 4  Jan/Nov 62.10 over to 60.80 over 4  Mar/May 3.70 under to 5.00 under 1,337  Mar/Jul 2.50 under to 4.20 under 19  May/Jul 1.60 over to 0.50 over 246  Jul/Nov 73.30 over to 70.00 over 25     

Source: Glacier FarmMedia, philfw@farmmedia.com

(END) Dow Jones Newswires

July 29, 2026 16:08 ET (20:08 GMT)

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