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ICE Close: Canola Strengthens into Weekend

The canola market was stronger on Friday, seeing a continuation of Thursday’s corrective bounce off contract lows to end the week as traders squared positions amid ideas recent losses were overdone. 

Gains in outside markets provided spillover support, with Chicago soyoil, European rapeseed and Malaysian palm oil futures all higher. However, relatively favourable Prairie crop weather kept a lid on the upside with timely rains in the forecast for some dry areas of Western Canada. 

July canola gained $6.50 to $658, November was up $3.90 to $637.60, and January added $4.10 to $643.30. 

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2025 Crop Weather Challenges: Ohio Flooding vs Idaho Drought Impact

Video: 2025 Crop Weather Challenges: Ohio Flooding vs Idaho Drought Impact

The tale of the two farmers is about as different as you can be this year. Ben Klick farms in Ohio while Jamie Kress is based in Idaho. They’re joined by a common denominator - the weather and the impact it can have when too much or too little falls. We start in the Eastern Corn Belt where delays have been the story of the year. Here is our second installment with the two producers this 2025 growing season.