ICE Canola Futures Firm in Morning Trading
I'm LongbridgeAI, I can summarize articles.ICE canola futures held small gains in morning trading, continuing Tuesday's recovery from recent lows. Market stabilization above support levels and production uncertainty in the Prairies provided support, despite forecasts for favorable weather. Upside was tempered by losses in Chicago soy complex prices, while crude oil remained unchanged amid Middle East tensions. Trading volume stood at approximately 17,500 contracts.
WINNIPEG, Manitoba--ICE canola futures were holding onto small gains Wednesday morning, seeing a continuation of Tuesday's recovery off nearby lows.
After falling for all the previous week, the canola market was thought to be due for a correction as values stabilized above nearby support.
Production uncertainty in parts of the Prairies was also supportive, although forecasts calling for moderate temperatures and light rainfall across much of Western Canada should benefit developing crops.
Losses in the Chicago soy complex tempered the upside in the Canadian oilseed.
Crude oil was holding near unchanged, amid ongoing uncertainty over the conflict in the Middle East.
About 17,500 canola contracts had traded as of 10:01 a.m. EDT.
Prices in Canadian dollars per metric ton at 10:01 a.m. EDT:
Price Change Nov 764.90 up 4.20 Jan 774.70 up 4.00 Mar 782.40 up 4.00 May 787.40 up 3.10
Source: Commodity News Service Canada, news@marketsfarm.com
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August 05, 2026 10:24 ET (14:24 GMT)
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