After the long weekend, canola was mostly higher overnight in a choppy session. The market fell lower for the first part of the day session but was able to come back and trim losses late in the session, closing with minor losses. Spillover pressure came from the losses in the crude oil market. Losses were trimmed by the gains in the soybean oil and European rapeseed markets. Malaysian palm oil was closed for Lunar New Year. The weaker Canadian dollar also helped to trim the losses.
Canola spent most of Wednesday’s session on the higher side and closed with strong gains and at 6-month highs. Support came from the sharply higher soybean oil and crude oil markets. European rapeseed was also higher while the Malaysian palm oil market was closed for Lunar New Year. Speculative buying added to the gains.
In Thursday’s session, canola climbed higher for the first part of the overnight session before retreating and turning lower. But the market bounced back in the day session and closed with decent gains. Support continued to come from the sharply higher soybean oil and crude oil markets. Speculative buying added to the gains. Agriculture and Agri-Food Canada estimates 2026 planted canola acres at 22.0 million vs. 21.6 million last year but lowered the yield, bringing production to 19.2 MMT, down 12% from last year.
Thursday’s cash sunflower bids in Fargo were at $22.50. Cash canola bids in Fargo were at $21.95. Cash bids in Velva were at $21.14.
For the week, March canola was at $674.60 up $11.10 while May canola was at $686.70 up $11.60.
Canola/Sunflower Weekly Comments February 20
Canola/Sunflower Weekly Comments February 20
After the long weekend, canola was mostly higher overnight in a choppy session. The market fell lower for the first part of the day session but was able to come back and trim losses late in the session, closing with minor losses. Spillover pressure came from the losses in the crude oil market. Losses were trimmed by the gains in the soybean oil and European rapeseed markets. Malaysian palm oil was closed for Lunar New Year. The weaker Canadian dollar also helped to trim the losses.
Canola spent most of Wednesday’s session on the higher side and closed with strong gains and at 6-month highs. Support came from the sharply higher soybean oil and crude oil markets. European rapeseed was also higher while the Malaysian palm oil market was closed for Lunar New Year. Speculative buying added to the gains.
In Thursday’s session, canola climbed higher for the first part of the overnight session before retreating and turning lower. But the market bounced back in the day session and closed with decent gains. Support continued to come from the sharply higher soybean oil and crude oil markets. Speculative buying added to the gains. Agriculture and Agri-Food Canada estimates 2026 planted canola acres at 22.0 million vs. 21.6 million last year but lowered the yield, bringing production to 19.2 MMT, down 12% from last year.
Thursday’s cash sunflower bids in Fargo were at $22.50. Cash canola bids in Fargo were at $21.95. Cash bids in Velva were at $21.14.
For the week, March canola was at $674.60 up $11.10 while May canola was at $686.70 up $11.60.