To start the week canola traded with small losses overnight and then added to the losses in the day session to close solidly lower. Profit taking after 4 higher closes in a row pressured the market. Harvest pressure added to the losses. Soybeans and soybean oil closed near unchanged and had little effect on canola today. Losses were limited by the strong gains in the crude oil market. As of August 25, Alberta’s canola crop was 0.1% harvested. All spring crops harvest is 6% complete vs. 15% average.
In Tuesday’s session canola gapped higher on the opening bell and never looked back. Support came from EPA’s decision to grant the waivers for the small refinery exemptions and to reallocate those RIN’s to the 2026 and 2027 compliance years. Potentially there are 500 million gallons of biofuels that will be reallocated. Light support also spilled over from the sharply higher US soybean and soybean oil contracts.
On Wednesday canola fell sharply lower early in the overnight session and then traded choppily in a narrower range for the rest of the session, closing solidly lower. Pressure came from profit taking after Tuesday’s steep gains. The sharply lower soybean oil market added pressure. Pressure also came from harvest getting underway across the Canadian Prairies. Manitoba reported their canola harvest is 5% complete.
In Thursday’s session canola traded on both sides of unchanged overnight and at one point the market was $18 lower. But canola climbed higher throughout the day session and closed with decent gains. Early pressure came from the sharply lower soybean oil market. European rapeseed and Malaysian palm oil were lower as well. Day session support came from the gains in the crude oil and soybean markets. Saskatchewan reported its canola harvest is 4% complete with a yield estimated at 38 bu./acre. All spring crops harvest is at 18% complete vs. 39% average.
Thursday’s cash sunflower bids in Fargo were at $26.75. Cash canola bids in Fargo were at $25.75. Cash bids in Velva were at $25.27.
As of August 30, North Dakota’s canola coloring was at 93% vs. 90% last week and 92% average. Canola’s crop condition rating increased 4% to 52% g/e, 36% fair, and 12% p/vp. Harvest was 33% complete vs. 19% last week and 28% average.
As of August 23, North Dakota’s sunflower blooming was at 98% vs. 96% last week. Sunflowers turning yellow were at 31% vs. 2% last week. The sunflower crop condition rating increased 4% to 45% g/e, 42% fair, and 13% p/vp.
For the week, Nov canola was at $822.50 down $1.20. Jan canola closed at $832.70 down 50 cents.
For the month, Nov canola was up $55.00. Jan canola closed up $55.80.
Canola/Sunflower Weekly Comments September 4
Canola/Sunflower Weekly Comments September 4
To start the week canola traded with small losses overnight and then added to the losses in the day session to close solidly lower. Profit taking after 4 higher closes in a row pressured the market. Harvest pressure added to the losses. Soybeans and soybean oil closed near unchanged and had little effect on canola today. Losses were limited by the strong gains in the crude oil market. As of August 25, Alberta’s canola crop was 0.1% harvested. All spring crops harvest is 6% complete vs. 15% average.
In Tuesday’s session canola gapped higher on the opening bell and never looked back. Support came from EPA’s decision to grant the waivers for the small refinery exemptions and to reallocate those RIN’s to the 2026 and 2027 compliance years. Potentially there are 500 million gallons of biofuels that will be reallocated. Light support also spilled over from the sharply higher US soybean and soybean oil contracts.
On Wednesday canola fell sharply lower early in the overnight session and then traded choppily in a narrower range for the rest of the session, closing solidly lower. Pressure came from profit taking after Tuesday’s steep gains. The sharply lower soybean oil market added pressure. Pressure also came from harvest getting underway across the Canadian Prairies. Manitoba reported their canola harvest is 5% complete.
In Thursday’s session canola traded on both sides of unchanged overnight and at one point the market was $18 lower. But canola climbed higher throughout the day session and closed with decent gains. Early pressure came from the sharply lower soybean oil market. European rapeseed and Malaysian palm oil were lower as well. Day session support came from the gains in the crude oil and soybean markets. Saskatchewan reported its canola harvest is 4% complete with a yield estimated at 38 bu./acre. All spring crops harvest is at 18% complete vs. 39% average.
Thursday’s cash sunflower bids in Fargo were at $26.75. Cash canola bids in Fargo were at $25.75. Cash bids in Velva were at $25.27.
As of August 30, North Dakota’s canola coloring was at 93% vs. 90% last week and 92% average. Canola’s crop condition rating increased 4% to 52% g/e, 36% fair, and 12% p/vp. Harvest was 33% complete vs. 19% last week and 28% average.
As of August 23, North Dakota’s sunflower blooming was at 98% vs. 96% last week. Sunflowers turning yellow were at 31% vs. 2% last week. The sunflower crop condition rating increased 4% to 45% g/e, 42% fair, and 13% p/vp.
For the week, Nov canola was at $822.50 down $1.20. Jan canola closed at $832.70 down 50 cents.
For the month, Nov canola was up $55.00. Jan canola closed up $55.80.