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ICE Canadian Canola Futures Fall 1.2% on Tuesday as Planting Area Hits Record High

2026-06-30 23:38:54

PALM-4.32%

According to Statistics Canada, ICE Canadian canola futures declined 1.2% on Tuesday (June 24) after the country's statistics bureau reported planting area data that exceeded market expectations. Canada's 2026/27 canola acreage is projected to reach a record 23.44 million acres, up 8.4% from last year's 21.62 million acres and surpassing the previous 2017 peak of 23.01 million acres.

Weaker crude oil futures and significant declines in U.S. soybean oil and Malaysian palm oil prices also weighed on Canadian canola values.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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