21/05/2026 (Country Guide) - Glacier FarmMedia — Seasonal price trends typically underpin the canola market at this time of year, although the futures are also taking direction from activity in crude oil and soyoil.

Canola futures often see highs at this time of year, as farmer selling backs off and they focus on spring seeding, said David Derwin, commodities investment advisor with Ventum Financial. While there are no major weather concerns developing yet, he said producers want to get a sense of what the crop is looking like before they make more sales or put on hedges.

“Some (spring seeding) is a little delayed, some of it is right on time, and some will be a challenge getting it in,” said Derwin.

“Seasonals are a guide, not a guarantee,” said Derwin, noting that there are other outside factors to consider.

He said general strength in crude oil and wide canola crush margins added to the nearby strength in the Canadian oilseed. Crush margins are also very strong for canola, helping hold up the market. European rapeseed and Malaysian palm oil have also shown strength recently.

From a chart perspective the canola and soyoil charts look very similar, said Derwin. The commodities each hit nearby highs in early May and have been hovering just below those levels in the subsequent weeks.

https://www.country-guide.ca/daily/ice-canola-weekly-seasonals-trends-support-prices/