Improving harvest conditions in Canada pressure canola and rapeseed prices

Canola and rapeseed prices remain under pressure amid expectations of a sizeable Canadian crop and improving harvest weather. StatCan estimates Canada’s canola production in MY 2026/27 at 22.1 mln tons, nearly unchanged from the previous season.

Canola yield is forecast at 41.8 bu/acre, down 8.3% year on year, while planted area increased by 8.4% to a record 23.2 mln acres. USDA’s September outlook is slightly higher, putting Canadian canola production at 22.5 mln tons.

November canola futures in Winnipeg fell 0.2% to CAD 827/t, or about $591/t. Prices are down 0.6% over the week. After excessive rainfall in recent weeks, warm and dry weather has returned to the Canadian Prairies and could accelerate harvesting over the next 7–14 days.

Harvest progress remains slower than a year ago. As of September 7, canola had been harvested on 9% of the area in Saskatchewan, 15% in Manitoba and 2.4% in Alberta, compared with around 20–30% at the same time last year.

November rapeseed futures in Paris also declined by 0.6% to €550.75/t, or about $635/t. Prices remain relatively high due to support from the crude oil market, but rising Canadian canola supply and a possible easing in crude oil prices could add further pressure to the rapeseed market.

Tags: prices, Canada, rapeseed, harvest, canola