ICE Canada Morning Comment: Canola moving lower

Intercontinental Exchange canola were dropping back near the end of the overnight session on Tuesday morning, following most comparable oils to the downside.

Comparable oils

Crude oil continues to fall back on hopes for renewed peace talks between the United States and Iran. That generated losses in Chicago soybeans and soyoil, European rapeseed and Malaysian palm oil. Chicago soymeal tacked on small increases.

S/D estimates

The markets will be positioning ahead of the monthly supply and demand estimates from the U.S. Department of Agriculture. The report is set to be released at noon MBT.

Pre-report projections called for an increase in U.S. soybean production, which will affect canola prices.

Crush margins

Canola contracted somewhat, with the Nov-Dec position down C$4 at C$250.71 per tonne above the futures.

Loonie

The Canadian dollar was lower on Tuesday morning with the loonie at 70.62 U.S. cents, compared to Monday’s close of 70.81.

Contracts

Approximately 11,950 contracts had been traded by 9:37 MBT.

Morning Prices: Nov. 10, 2026   C$/tonne ICE Canola Jan 753.30 -4.10 ICE Canola Mar 764.40 -4.30 ICE Canola May 772.40 -4.70 ICE Canola May 776.20 -4.50   U.S. cents/bushel MGEX Spring Wheat Dec 620.00 -2.25 KC Hard Red Wheat Dec 633.25 0.75 Chicago Soft Wheat Dec 586.00 -2.00 CBOT Corn Dec 439.75 0.50 CBOT Oats Dec 333.50 1.25 CBOT Soybeans Jan 1188.00 -0.50 CBOT Soybeans Mar 1194.00 -1.00 CBOT Soybean Oil* Dec 61.65 -0.38 CBOT Soybean Meal* Dec 321.30 0.60 *soyoil in cents/pound, soymeal in US$/ton

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