WINNIPEG, Manitoba--ICE Futures canola contracts were weaker at midday Friday, backing away from the highs hit Thursday as traders booked profits ahead of the weekend.
A downturn in crude oil contributed to the losses in canola, with Chicago soyoil and European rapeseed also weaker on the day.
The November contract traded within a wide range, hitting a new high of C$838.90 per metric ton in overnight trade before falling to C$812.00 and then stabilizing with more modest losses. The contract was down C$12 at midday at C$823.90 per metric ton.
Weekly Canadian canola exports of 168,100 metric tons were roughly half of what moved the previous week, according to Canadian Grain Commission data. Crop-year-to-date exports of 8.7 million metric tons compare with 9.4 million metric tons at the same point the previous year with two weeks remaining in the 2025-26 marketing year.
Production uncertainty in parts of the Prairies and the need to keep a weather premium in the market remained supportive.
