Canola futures slide as vegetable oil weakness weighs on the market
Canola futures on ICE extend losses alongside soyoil, rapeseed and palm oil. According to Dow Jones Newswires, November contracts lost 4.90 Canadian dollars.
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what happened
Canola futures on the Intercontinental Exchange extended losses in mid-session Wednesday, pressured by weaker vegetable oils. Chicago soyoil, European rapeseed and Malaysian palm oil all traded lower. Crude oil moved choppily as Middle East exports continued despite attacks on tankers in the Strait of Hormuz. Dow Jones Newswires reported the move, citing Glacier FarmMedia data.
why it matters
Agriculture and Agri-Food Canada also cut projected 2026-27 canola ending stocks by 11,000 tonnes, to 1.968 million. November futures fell to 776.10 Canadian dollars per tonne, while Manitoba's harvest reached 92% finished as of Oct. 20.
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sources
- ICE Midday: Canola, Vegetable Oils Decline — Dow Jones Newswires, 21 October 2026 at 15:57 UTC
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