Weekly farm report: ICE canola futures fall on the week despite Tuesday rebound
ICE canola futures settled lower for the week ending Nov. 10 across all contract months, while southern Alberta spot cash bids slipped to $727.99 a tonne.
News
Canola
All five active ICE canola contracts settled lower on Tuesday, Nov. 10 compared with Tuesday, Nov. 3, according to settlements published by PDQ on Alberta Canola's daily price page. The front-month November 2026 contract lost $9.90 on the week, while the January 2027 contract posted the largest weekly decline of the board at $11.40.
| Contract | Settle | Weekly change |
|---|---|---|
| Nov 2026 | $759.90/t | -$9.90 |
| Jan 2027 | $770.40/t | -$11.40 |
| Mar 2027 | $781.00/t | -$10.30 |
| May 2027 | $788.50/t | -$9.40 |
| Jul 2027 | $790.40/t | -$9.20 |
Funds
Managed money funds held a net long position of 33,530 ICE canola contracts as of Tuesday, Nov. 3, down from a net long of 49,785 contracts as of Oct. 27, according to the U.S. Commodity Futures Trading Commission's Commitments of Traders report. Long positions fell by 16,674 contracts on the week to 75,802, while short positions declined by 419 to 42,272. Total open interest stood at 271,687 contracts.
Wheat and other grains
At CME Group on Tuesday, Nov. 10, Chicago soft red winter wheat for December 2026 settled at US$5.93 a bushel and Kansas City hard red winter wheat for December 2026 settled at US$6.34 a bushel. December 2026 corn settled at US$4.49 a bushel and December 2026 oats settled at US$3.45 a bushel.
Oilseeds and crude
Chicago January 2027 soybeans settled at US$12.28 a bushel on Tuesday, Nov. 10. December 2026 soybean oil settled at 62.77 U.S. cents a pound, and January 2027 soybean meal settled at US$326.00 a short ton. NYMEX January 2027 crude oil settled at US$84.86 a barrel.
Loonie
The Canadian dollar sat at 70.52 U.S. cents on Tuesday, Nov. 10, down from 71.46 U.S. cents on Tuesday, Nov. 3, according to the Bank of Canada. That put the U.S. dollar at C$1.4181.
Grain movement
For the week ending Nov. 1, producer deliveries of canola into primary and process elevators totalled 458,700 tonnes, down from 512,200 tonnes the previous week, while canola exports rose to 284,900 tonnes from 215,100 tonnes, according to the Canadian Grain Commission's Grain Statistics Weekly for week 13 of crop year 2026-27. Domestic processors crushed 205,900 tonnes of canola during the week.
Wheat producer deliveries edged up to 461,000 tonnes from 444,400 tonnes, while wheat exports slipped to 373,500 tonnes from 386,700 tonnes. Alberta primary elevators received 166,400 tonnes of wheat. Amber durum producer deliveries were nearly flat at 90,000 tonnes versus 90,400 tonnes the week prior, with exports of 78,300 tonnes; Alberta primary elevators took in 15,300 tonnes.
Barley producer deliveries dropped to 49,700 tonnes from 104,100 tonnes the previous week, while barley exports rose to 126,800 tonnes from 100,500 tonnes. Alberta primary elevators received 16,900 tonnes of barley. Oats producer deliveries climbed to 34,100 tonnes from 24,000 tonnes, with exports of 24,000 tonnes and Alberta primary elevator receipts of 4,000 tonnes.
Pea producer deliveries jumped to 73,400 tonnes from 42,900 tonnes, while pea exports fell to 57,100 tonnes from 77,400 tonnes; Alberta primary elevators received 42,700 tonnes. Lentil producer deliveries rose to 24,600 tonnes from 16,600 tonnes, with 4,400 tonnes going into Alberta primary elevators. Flaxseed producer deliveries increased to 8,200 tonnes from 3,100 tonnes, with 300 tonnes delivered into Alberta primary elevators.
Cash bids in southern Alberta
Southern Alberta canola spot bids averaged $727.99 a tonne on Tuesday, Nov. 10, down $6.72 from Tuesday, Nov. 3, based on PDQ regional average elevator bids. The January 2027 southern Alberta bid fell $10.25 on the week to $731.29 a tonne, and the May 2027 bid declined $8.48 to $748.68 a tonne. The southern Alberta November bid was $740.02 a tonne as of Friday, Oct. 30, unchanged from that date.
Southern Alberta spot bids were $15.73 a tonne above the Peace River region spot average of $712.26 a tonne on Tuesday, Nov. 10, and $13.03 above the northern Alberta spot average of $713.96 a tonne. The Peace region spot bid fell $9.79 on the week, while the northern Alberta spot bid was down $5.82.
The CFTC will release its next Commitments of Traders report on Friday, Nov. 13, covering positions as of Tuesday, Nov. 10.
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