To start the week canola traded on both sides of unchanged overnight but fell lower throughout the day session and closed solidly lower. Pressure came from speculative selling and the losses in the soybean oil market. Technical selling added pressure. Losses were limited by cool and wet conditions that are slowing planting. Alberta’s crop progress report put all spring crop planting is just 8.3% complete vs. 15.3% for the 5-year average. Canola planting is at 0.8% complete.
Canola slowly climbed higher throughout Tuesday’s session and closed with strong gains. Support came from the higher soybean complex and the gains in the crude oil market. Strong crush margins and a weaker Canadian dollar added to the gains. Manitoba reported all spring crop planting at 13% complete vs. 33% last year and 23% average and noted that canola and sunflower planting have begun in most regions.
In Wednesday’s session canola traded on both sides of unchanged overnight, saw the session highs early in the day session but then faded the rest of the session and closed with losses. Pressure came from the steep losses in the soybean oil market. Improving weather forecasts for the western Canadian Prairies that will speed up planting progress added pressure. USDA expects 2026/27 world canola production will increase 1.4 MMT to 96.9 MMT. They left their estimate of Canada’s production unchanged at 22.0 MMT
On Thursday canola traded on both sides of unchanged for the first part of the overnight session, then turned lower and added to the losses for the rest of the session to close solidly lower. Pressure came from the steep losses in the soybean complex, as well as from the lower Malaysian palm oil and European rapeseed markets. Improving planting conditions across the Canadian Prairies added pressure. Saskatchewan reported all spring crop planting at 16% complete vs. 28% average and 49% last year. Canola planting is 7% complete.
Thursday’s cash sunflower bids in Fargo were at $24.00. Cash canola bids in Fargo were at $24.00 Cash bids in Velva were at $22.86.
As of May 10, North Dakota’s canola is 18% planted vs. 7% last week and 15% average.
For the week, July canola was at $738.10 down $15.00 while Nov canola was at $749.10 down $8.80.
Canola/Sunflower Weekly Comments May 15
Canola/Sunflower Weekly Comments May 15
To start the week canola traded on both sides of unchanged overnight but fell lower throughout the day session and closed solidly lower. Pressure came from speculative selling and the losses in the soybean oil market. Technical selling added pressure. Losses were limited by cool and wet conditions that are slowing planting. Alberta’s crop progress report put all spring crop planting is just 8.3% complete vs. 15.3% for the 5-year average. Canola planting is at 0.8% complete.
Canola slowly climbed higher throughout Tuesday’s session and closed with strong gains. Support came from the higher soybean complex and the gains in the crude oil market. Strong crush margins and a weaker Canadian dollar added to the gains. Manitoba reported all spring crop planting at 13% complete vs. 33% last year and 23% average and noted that canola and sunflower planting have begun in most regions.
In Wednesday’s session canola traded on both sides of unchanged overnight, saw the session highs early in the day session but then faded the rest of the session and closed with losses. Pressure came from the steep losses in the soybean oil market. Improving weather forecasts for the western Canadian Prairies that will speed up planting progress added pressure. USDA expects 2026/27 world canola production will increase 1.4 MMT to 96.9 MMT. They left their estimate of Canada’s production unchanged at 22.0 MMT
On Thursday canola traded on both sides of unchanged for the first part of the overnight session, then turned lower and added to the losses for the rest of the session to close solidly lower. Pressure came from the steep losses in the soybean complex, as well as from the lower Malaysian palm oil and European rapeseed markets. Improving planting conditions across the Canadian Prairies added pressure. Saskatchewan reported all spring crop planting at 16% complete vs. 28% average and 49% last year. Canola planting is 7% complete.
Thursday’s cash sunflower bids in Fargo were at $24.00. Cash canola bids in Fargo were at $24.00 Cash bids in Velva were at $22.86.
As of May 10, North Dakota’s canola is 18% planted vs. 7% last week and 15% average.
For the week, July canola was at $738.10 down $15.00 while Nov canola was at $749.10 down $8.80.