ICE Canola Futures Close Week in Positive Territory Amid Vegetable Oil Gains

Canola futures on the Intercontinental Exchange (ICE) closed the week in positive territory, buoyed by gains in vegetable oils. The Chicago soyoil price rose by 2.5 US cents per pound, while European rapeseed and Malaysian palm oil also increased.

An analyst noted that despite canola's rally, it will be challenging for the November contract to surpass the C$825 per tonne level.

The Canadian Grain Commission reported a slight increase in canola exports and domestic use for the week ended August 23. Statistics Canada revealed a record-breaking 1.322 million tonnes of canola were crushed in July, contributing to an overall record crush of 12.83 million tonnes in the 2025-26 fiscal year.