Canola started the week by trading on both sides of unchanged overnight, saw the session high early in the day session only to fade and close with small gains. Support came from the strong gains in the soybean oil market. Malaysian palm oil and European rapeseed were also higher. Fund buying added support. Gains were limited by the lower soybean and crude oil markets.
In Tuesday’s session canola was lower overnight but spent the day session on the higher side and closed with decent gains. The market has closed higher for 5 sessions in a row. Technical selling pressured canola overnight. Day session support came from the gains in the soybean complex and the weaker Canadian dollar.
On Wednesday canola traded in a narrow range on both sides of unchanged overnight but dropped $10 lower early in the day session. The market was then able to recover and closed just below unchanged. Pressure came from the lower Malaysian palm oil and European rapeseed markets, as well as from the stronger Canadian dollar. Gains in the soybean complex helped canola trim losses. Stats Canada reported January crush at 1.05 MMT vs. 1.01 MMT last year. Recent cold temps in Ukraine may have damaged their winter canola crop.
Canola traded back and forth on both sides of unchanged and closed with small gains on Thursday. Support came from the sharply higher soybean oil market (up over $1.00). Improving crush margins were also supportive. Gains were limited by the losses in the Malaysian palm oil market. Stats Canada will release their first estimate of 2026 planted acres next Thursday, March 5.
Thursday’s cash sunflower bids in Fargo were at $22.50. Cash canola bids in Fargo were at $22.45. Cash bids in Velva were at $21.89.
For the week, March canola was at $674.70 up 10 cents while May canola was at $687.70 up $1.00.
For the month, March canola was up $26.70 while May canola was up $28.50.
Canola/Sunflower Weekly Comments February 27
Canola/Sunflower Weekly Comments February 27
Canola started the week by trading on both sides of unchanged overnight, saw the session high early in the day session only to fade and close with small gains. Support came from the strong gains in the soybean oil market. Malaysian palm oil and European rapeseed were also higher. Fund buying added support. Gains were limited by the lower soybean and crude oil markets.
In Tuesday’s session canola was lower overnight but spent the day session on the higher side and closed with decent gains. The market has closed higher for 5 sessions in a row. Technical selling pressured canola overnight. Day session support came from the gains in the soybean complex and the weaker Canadian dollar.
On Wednesday canola traded in a narrow range on both sides of unchanged overnight but dropped $10 lower early in the day session. The market was then able to recover and closed just below unchanged. Pressure came from the lower Malaysian palm oil and European rapeseed markets, as well as from the stronger Canadian dollar. Gains in the soybean complex helped canola trim losses. Stats Canada reported January crush at 1.05 MMT vs. 1.01 MMT last year. Recent cold temps in Ukraine may have damaged their winter canola crop.
Canola traded back and forth on both sides of unchanged and closed with small gains on Thursday. Support came from the sharply higher soybean oil market (up over $1.00). Improving crush margins were also supportive. Gains were limited by the losses in the Malaysian palm oil market. Stats Canada will release their first estimate of 2026 planted acres next Thursday, March 5.
Thursday’s cash sunflower bids in Fargo were at $22.50. Cash canola bids in Fargo were at $22.45. Cash bids in Velva were at $21.89.
For the week, March canola was at $674.70 up 10 cents while May canola was at $687.70 up $1.00.
For the month, March canola was up $26.70 while May canola was up $28.50.