ICE canola futures dropped as much as $22.80 a tonne since the session before Thursday, Oct. 29, while Chicago January 2027 soybeans settled at US$12.02 a bushel on Wednesday, Nov. 4.

Canola

All five actively traded ICE canola contracts posted losses since the session before Thursday, Oct. 29, according to settlements published by PDQ on Alberta Canola's daily price page. The front-month November 2026 and January 2027 contracts each fell $17.40 a tonne, while deferred contracts gave back more ground.

Contract Settle ($/tonne) Change since Oct. 29
Nov 2026 756.40 -17.40
Jan 2027 768.30 -17.40
Mar 2027 777.70 -19.50
May 2027 784.00 -21.50
Jul 2027 785.10 -22.80

Funds

Data from the U.S. Commodity Futures Trading Commission's Commitments of Traders report showed managed money held a net long position of 49,785 ICE canola contracts as of Tuesday, Oct. 27, down from a net long of 86,618 contracts as of Oct. 20. Long positions fell by 29,154 contracts on the week to 92,476, while short positions rose by 7,679 to 42,691. Total open interest stood at 273,819 contracts.

Wheat and other grains

Chicago December 2026 soft red winter wheat settled at US$5.99 a bushel on Wednesday, Nov. 4, according to CME Group. Kansas City December 2026 hard red winter wheat settled at US$6.33 a bushel. Chicago December 2026 corn settled at US$4.44 a bushel, and December 2026 oats settled at US$3.36 a bushel.

Oilseeds and crude

Chicago January 2027 soybeans settled at US$12.02 a bushel on Wednesday, Nov. 4. December 2026 soybean oil settled at 63.53 U.S. cents a pound, and December 2026 soybean meal settled at US$318.60 a short ton. NYMEX December 2026 crude oil settled at US$88.12 a barrel.

Loonie

The Canadian dollar closed at 71.63 U.S. cents on Wednesday, Nov. 4, according to the Bank of Canada, up from 71.25 U.S. cents on Wednesday, Oct. 28. One U.S. dollar bought C$1.3961.

Grain movement

In week 12 of the 2026-27 crop year, ending Oct. 25, producer deliveries of canola into primary and process elevators totalled 445,900 tonnes, down from 512,200 tonnes the previous week, according to the Canadian Grain Commission's Grain Statistics Weekly. Alberta primary elevator deliveries of canola were 119,900 tonnes, while exports reached 238,000 tonnes, up from 215,100 tonnes. Domestic processors crushed 180,700 tonnes of canola during the week.

Wheat producer deliveries were 426,200 tonnes, down from 444,400 tonnes, with exports of 410,000 tonnes, up from 386,700 tonnes. Alberta primary elevator receipts were 152,400 tonnes. Amber durum producer deliveries fell to 85,500 tonnes from 90,400 tonnes the previous week, while exports more than doubled to 155,200 tonnes from 78,100 tonnes; Alberta primary elevators took in 18,700 tonnes.

Barley producer deliveries fell to 82,900 tonnes from 104,100 tonnes, with exports of 117,900 tonnes, up from 100,500 tonnes; Alberta primary elevator receipts were 23,000 tonnes. Pea deliveries rose to 73,100 tonnes from 42,900 tonnes, with Alberta primary elevator receipts of 27,900 tonnes; exports were 24,500 tonnes, down from 77,400 tonnes. Lentil deliveries were 24,800 tonnes, up from 16,600 tonnes, with exports of 30,200 tonnes against 16,600 tonnes the previous week; Alberta primary elevator receipts were 5,000 tonnes. Oat producer deliveries were 40,200 tonnes, up from 24,000 tonnes the previous week, with Alberta primary elevator receipts of 5,600 tonnes and exports of 9,300 tonnes. Flaxseed deliveries were 5,300 tonnes, up from 3,100 tonnes, with no recorded deliveries into Alberta primary elevators.

Cash bids in southern Alberta

Southern Alberta spot canola bids averaged $723.17 a tonne on Wednesday, Nov. 4, down $11.00 since the session before Thursday, Oct. 29, according to PDQ regional average elevator bids. The November bid was $740.02 a tonne on Friday, Oct. 30, up $2.30 over the same comparison period. January bids were $730.01 a tonne on Wednesday, Nov. 4, down $15.40, and May bids were $744.86 a tonne, down $19.59.

The Peace River region spot bid was $710.47 a tonne on Wednesday, Nov. 4, down $10.64 since the session before Oct. 29. Northern Alberta spot bids were $708.39 a tonne on Wednesday, Nov. 4, down $14.12 over the same period. Southern Alberta spot bids were $12.70 a tonne above the Peace region and $14.78 a tonne above northern Alberta.

The CFTC's next Commitments of Traders report, covering positions as of Tuesday, Nov. 3, is scheduled for release on Friday, Nov. 6.

Share this article
The link has been copied!