To start the week canola gapped higher at the start of the overnight session and then added to the gains to close with strong gains. Spillover support came from the sharply higher crude oil market after the US attack on Iran. Support also came from China’s announcement that they lowered the anti-dumping tariff on Canadian canola seed from 75.8% down to 5.9% and closed the anti-dumping investigation. A standard 9% tariff still applies, bringing the total tariff to 14.9%. However, China also said they will maintain the 100% tariff on Canadian canola oil.
Canola slowly climbed higher throughout Tuesday’s session and closed with solid gains. Support continued to spill over from the sharply higher crude oil market. Speculative buying added support. Export optimism after China lowered tariffs on Canadian canola seed yesterday added to the gains.
Canola traded back and forth in a choppy session and closed with gains on Wednesday. Support came from the strong gains in the soybean oil market. Demand optimism was also supportive as China reduced tariffs on imports of Canadian canola.
In Thursday’s session canola saw small gains overnight and climbed higher throughout the day session to close with strong gains and at 7-month highs. Spillover support came from the huge gains in the crude oil market. The morning’s Stats Canada report was also supportive. 2026 planted canola acres were estimated at 21.8 million, 200,000 acres higher than last year but 500,000 acres lower than expected. Stats Canada’s estimates were based in part by farmer surveys, but those surveys were done before Canada and China came to a trade agreement and Chine lowered tariffs on canola. So, some believe actual planted acres will be higher.
Thursday’s cash sunflower bids in Fargo were at $23.25. Cash canola bids in Fargo were at $23.35. Cash bids in Velva were at $22.27.
For the week, May canola was at $730.80 up $43.10 while Nov canola was at $726.00 up $4.30.
Canola/Sunflower Weekly Comments March 6
Canola/Sunflower Weekly Comments March 6
To start the week canola gapped higher at the start of the overnight session and then added to the gains to close with strong gains. Spillover support came from the sharply higher crude oil market after the US attack on Iran. Support also came from China’s announcement that they lowered the anti-dumping tariff on Canadian canola seed from 75.8% down to 5.9% and closed the anti-dumping investigation. A standard 9% tariff still applies, bringing the total tariff to 14.9%. However, China also said they will maintain the 100% tariff on Canadian canola oil.
Canola slowly climbed higher throughout Tuesday’s session and closed with solid gains. Support continued to spill over from the sharply higher crude oil market. Speculative buying added support. Export optimism after China lowered tariffs on Canadian canola seed yesterday added to the gains.
Canola traded back and forth in a choppy session and closed with gains on Wednesday. Support came from the strong gains in the soybean oil market. Demand optimism was also supportive as China reduced tariffs on imports of Canadian canola.
In Thursday’s session canola saw small gains overnight and climbed higher throughout the day session to close with strong gains and at 7-month highs. Spillover support came from the huge gains in the crude oil market. The morning’s Stats Canada report was also supportive. 2026 planted canola acres were estimated at 21.8 million, 200,000 acres higher than last year but 500,000 acres lower than expected. Stats Canada’s estimates were based in part by farmer surveys, but those surveys were done before Canada and China came to a trade agreement and Chine lowered tariffs on canola. So, some believe actual planted acres will be higher.
Thursday’s cash sunflower bids in Fargo were at $23.25. Cash canola bids in Fargo were at $23.35. Cash bids in Velva were at $22.27.
For the week, May canola was at $730.80 up $43.10 while Nov canola was at $726.00 up $4.30.