WINNIPEG, Manitoba--ICE Futures canola contracts were stronger at midday Friday, finding spillover support from gains in Chicago soyoil.
European rapeseed and Malaysian palm oil futures also were higher, with a firmer tone in crude oil underpinning world vegetable oil markets.
Chart-based positioning contributed to the gains in canola as the nearby technical signals remain pointed higher.
Agriculture and Agri-Food Canada raised their canola ending stocks projection for 2026-27 to 1.319 million tonnes from 1.064 million the previous month. The 2025-26 canola carryout forecast tightened by 45,000 tonnes in the report released May 21, at 2.720 million tonnes.
Markets in the U.S. will be closed Monday for Memorial Day while canola will trade its usual hours.
