ICE Canola Falls Amid Rising Crude Oil Prices and Strong End Stocks

Canola futures on the Intercontinental Exchange (ICE) continued to decline on Thursday morning despite a rise in crude oil prices. The increase in crude oil, nearly $4 per barrel, can be attributed to ongoing tensions between the United States and Iran.

The Chicago soyoil market also saw an uptick, while European rapeseed and Malaysian palm oil were lower. Statistics Canada reported that 2025-26 canola ending stocks as of July 31 stood at 1.9 million tonnes, a 19% increase compared to the previous year and in line with the five-year average.

The Canadian dollar experienced a slight drop, down by one-tenth of a U.S. cent compared to Wednesday's close. Trading activity remained moderate, with nearly 15,900 contracts exchanged.