Intercontinental Exchange canola futures were mostly lower late Monday morning, but coming away from larger declines earlier in the session.

Brazil election

An analyst said the outcome of the Brazil presidential election is weighing on the Chicago soy complex. The analyst said with the re-election of President Lula resulted in the Brazilian real dropping about 10 per cent in value this morning, making that country’s soybeans more appealing.

Canola harvest

The analyst also said harvest pressure was still being felt in the canola market.

The Alberta crop report placed the canola harvest at 86 per cent complete. Although that’s up 12 points from the previous report, canola is least harvest crop in the province.

Comparable oils

Efforts to get the United States and Iran back to the negotiating table saw crude oil values drop. That pressure weighed on canola, as well as Chicago soy and Malaysian palm oil. European rapeseed was steady to higher.

Weather

Prairie skies are to be clear on Monday, with temperatures mostly in the mid to high single digits Celsius. Depending on the location, rain or snow is expected across the region on Tuesday.

Canola deliveries

Statistics Canada reported September canola deliveries at 2.75 million tonnes compared to 1.92 million a year ago.

Loonie

The Canadian dollar was stepping back late Monday morning with the loonie at 71.23 U.S. cents, compared to Friday’s close of 71.46.

Contracts

Approximately 48,350 canola contracts were traded as of 10:25 a.m. CDT.

Midday Prices: Oct. 26, 2026

 
C$/tonne

ICE Canola
Nov
777.70
-1.10

ICE Canola
Jan
791.20
-1.40

ICE Canola
Mar
803.60
-0.90

ICE Canola
May
812.70
0.20

 
U.S. cents/bushel

MGEX Spring Wheat
Dec
632.50
-9.00

KC Hard Red Wheat
Dec
655.50
-9.00

Chicago Soft Wheat
Dec
614.00
-11.00

CBOT Corn
Dec
454.25
-1.75

CBOT Oats
Dec
367.50
-4.50

CBOT Soybeans
Nov
1236.75
-19.75

CBOT Soybeans
Jan
1248.25
-20.25

CBOT Soybean Oil*
Dec
66.18
-0.65

CBOT Soybean Meal*
Dec
339.50
-6.60

*soyoil in cents/pound, soymeal in US$/ton

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