ICE Canola Edges Higher After Erasing Early Losses
ICE canola futures finished Monday slightly higher, recovering early losses as crude weakness eased. Prairie harvest pressure and a softer Brazilian real capped the gains.
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what happened
According to Dow Jones Newswires, Intercontinental Exchange canola futures posted small gains on Monday after trading lower earlier in the session. Support came from crude oil, whose decline by early afternoon was roughly half of the morning drop. Chicago soyoil and European rapeseed also rose modestly, while soybeans, soymeal and Malaysian palm oil lost ground.
Canola's advance was held back by lingering Prairie harvest pressure and a weaker Brazilian real, which makes Brazilian soybeans more appealing to exporters. Statistics Canada data showed September canola deliveries at 2.75 million tonnes, versus 1.92 million a year earlier. Alberta reported that its canola harvest reached 86% complete as of October 20.
why it matters
An analyst flagged the March contract as the level to watch, saying prices look reasonably solid while it holds above C$800 per tonne. The Canadian dollar eased to 71.32 US cents on Monday from 71.46 at Friday's close, which affects canola's value in US-dollar terms.
tags
instruments
sources
- ICE Review: Canola Higher, Sheds Early Losses — Dow Jones Newswires, 26 October 2026 at 19:20 UTC
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