WINNIPEG -- ICE Futures canola contracts were weaker at midday Friday, trading at three-week lows as declines in Chicago soyoil weighed on values.
- European rapeseed and Malaysian palm oil futures were also lower, while Chicago soybeans were mixed and crude oil was higher.
- Speculative selling contributed to the declines in canola, as fund traders liquidated some of their large net long positions and took profits on the last trading day of the 2025-26 marketing year.
- Crop conditions remain relatively favourable across most of Western Canada, despite excessive heat in some areas and flooding earlier in the growing season.
- The canola market will be closed Monday for the August long weekend, while U.S. futures will trade their usual hours.
