ICE Canola Uptrend Continues Thursday
I'm LongbridgeAI, I can summarize articles.ICE Futures canola contracts rose midday Thursday, driven by crude oil gains from Middle East tensions and supply concerns due to weather issues in the Prairies. The November contract gained C$7.30 to C$829.90/tonne, though profit-taking limited upside. Other oilseeds also advanced.
WINNIPEG, Manitoba--ICE Futures canola contracts remained pointed higher at midday Thursday, although values were off their session highs.
Gains in crude oil spilled into the oilseed markets, as the conflict in the Middle East expanded to the Red Sea.
Chicago soyoil, European rapeseed and Malaysian palm oil were up on the day.
Production uncertainty in parts of the Prairies and the need to keep a weather premium in the market provided additional support. Excessive moisture earlier in the growing season led into the abandonment of some acres and disease issues in others, while nearby forecasts have turned hot and dry in many areas.
The November canola contract was up by C$7.30 per tonne at C$829.90 at midday. The contract hit a session high of C$837.60 per tonne, but speculative profit-taking and scale- up farmer selling tempered the upside.
An estimated 48,900 canola contracts traded as of 11:36 EDT.
Prices in Canadian dollars per metric tonne at 11:36 EDT:
Price Change Nov 829.90 up 7.30 Jan 839.90 up 7.40 Mar 845.00 up 5.90 May 845.40 up 3.80
Source: Commodity News Service Canada, news@marketsfarm.com
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July 23, 2026 12:07 ET (16:07 GMT)
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