ICE Canola Futures Slide as Crude Oil Prices Surge

ICE canola futures continued to struggle on Thursday morning despite the rising price of crude oil. The continued tensions between the US and Iran pushed up crude oil prices by nearly $4 per barrel, while Chicago soyoil rose in response.

However, European rapeseed and Malaysian palm oil were lower, as reported by the Canadian market. Statistics Canada also released data on 2025-26 canola ending stocks, which stood at 1.9 million tonnes, up 19% from last year and in line with the five-year average.

The Canadian dollar was down one-tenth of a US cent compared to Wednesday's close, while nearly 15,900 contracts were traded on ICE. Prices for canola futures in Canadian dollars per metric ton as of 8:47 CDT were: