The Canadian markets were also closed on Monday for a Canadian provincial holiday. When the markets reopened overnight, canola spent the first part of the overnight session lower but got back on the positive side late in the overnight session. But the market faded late in the day session and closed with small losses. Early support came from the higher European rapeseed and Malaysian palm oil markets. But tariff concerns and the stronger Canadian dollar pulled the market lower. Losses were limited by the sharp gains in the soybean oil market.
In Wednesday’s session canola opened higher and added to the gains until late in the overnight session when the market turned lower. The market then started climbing again, only to fade late in the day session and closed with small gains. Day session pressure came from the sharply lower soybean oil market. But tight supplies and the weaker Canadian dollar helped canola end the session with small gains.
Canola climbed slowly higher throughout Thursday’s session and closed with solid gains. Support came from the strong gains in the soybean complex. Tight supplies added support. Ag Canada released updated numbers increasing the 2025/25 canola stocks by 50,000 tonnes to 1.3 MMT and 2025/26 stocks by 50,000 tonnes to 1.0 MMT. But those numbers are sharply lower than the 2023/24 ending stocks of 2.75 MMT. Gains were limited by the stronger Canadian dollar.
Thursday’s cash sunflower bids in Fargo were at $27.00. Cash canola bids in West Fargo were at $21.05. Cash canola bids in Velva were at $20.27.
For the week, March canola was at $667.80 up $4.30 while May canola was at $679.70 up $5.20.
Canola/Sunflower Weekly Comments February 21
Canola/Sunflower Weekly Comments February 21
The Canadian markets were also closed on Monday for a Canadian provincial holiday. When the markets reopened overnight, canola spent the first part of the overnight session lower but got back on the positive side late in the overnight session. But the market faded late in the day session and closed with small losses. Early support came from the higher European rapeseed and Malaysian palm oil markets. But tariff concerns and the stronger Canadian dollar pulled the market lower. Losses were limited by the sharp gains in the soybean oil market.
In Wednesday’s session canola opened higher and added to the gains until late in the overnight session when the market turned lower. The market then started climbing again, only to fade late in the day session and closed with small gains. Day session pressure came from the sharply lower soybean oil market. But tight supplies and the weaker Canadian dollar helped canola end the session with small gains.
Canola climbed slowly higher throughout Thursday’s session and closed with solid gains. Support came from the strong gains in the soybean complex. Tight supplies added support. Ag Canada released updated numbers increasing the 2025/25 canola stocks by 50,000 tonnes to 1.3 MMT and 2025/26 stocks by 50,000 tonnes to 1.0 MMT. But those numbers are sharply lower than the 2023/24 ending stocks of 2.75 MMT. Gains were limited by the stronger Canadian dollar.
Thursday’s cash sunflower bids in Fargo were at $27.00. Cash canola bids in West Fargo were at $21.05. Cash canola bids in Velva were at $20.27.
For the week, March canola was at $667.80 up $4.30 while May canola was at $679.70 up $5.20.