Canola futures rose past $730 per tonne as renewed skepticism regarding a Middle East ceasefire re-established the risk premium across the energy and oilseed complex. This upward move followed a surge in crude oil which strengthened the biofuel-driven demand floor and pulled Chicago soyoil and canola higher in tandem. While President Trump extended the deadline for strikes on Iranian energy infrastructure to April 6th to allow for negotiations, the potential deployment of 10,000 additional US ground troops has fueled fears of a prolonged conflict and further supply chain disruptions. Farmers face increasing pressure as global supplies of nitrogen-based fertilizers shrink and diesel overheads climb, threatening to offset the gains from higher crop prices. Despite a temporary gesture of goodwill where Iran allowed ten tankers to pass through the Strait of Hormuz, the waterway remains effectively closed, keeping energy-driven inflation risks at the forefront of the market.

Canola rose to 732.15 CAD/T on March 31, 2026, up 0.61% from the previous day. Over the past month, Canola's price has risen 4.83%, and is up 16.83% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Canola reached an all time high of 1226 in May of 2022. Canola - data, forecasts, historical chart - was last updated on March 31 of 2026.

Canola rose to 732.15 CAD/T on March 31, 2026, up 0.61% from the previous day. Over the past month, Canola's price has risen 4.83%, and is up 16.83% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Canola is expected to trade at 720.93 CAD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 773.17 in 12 months time.



Price Day Month Year Date
Soybeans 1,172.33 12.50 1.08% 1.94% 13.35% Mar/31
Wheat 618.27 11.25 1.85% 7.62% 14.39% Mar/31
Lumber 607.05 2.05 0.34% 9.38% -9.20% Mar/31
Cheese 1.70 0.0201 1.20% 1.38% -0.17% Mar/31
Palm Oil 4,794.00 174.00 3.77% 14.31% 8.46% Mar/30
Milk 16.11 0.01 0.06% 7.98% -13.67% Mar/31
Cocoa 3,270.13 115.13 3.65% 8.25% -60.72% Mar/31
Cotton 69.96 -0.229 -0.33% 8.32% 2.56% Mar/31
Rubber 200.60 0.30 0.15% -2.05% 3.83% Mar/31
Orange Juice 190.11 10.01 5.56% 10.31% -26.37% Mar/31
Coffee 297.72 5.17 1.77% 4.61% -23.55% Mar/31
Oat 351.75 0.7547 0.22% 13.20% -0.91% Mar/31
Wool 1,724.00 0 0% 0.47% 38.47% Mar/31
Rice 11.35 0.0550 0.49% 6.83% -14.69% Mar/31
Canola 732.18 4.48 0.62% 4.84% 16.83% Mar/31
Sugar 15.50 -0.05 -0.32% 11.44% -19.93% Mar/31
Corn 458.24 2.4932 0.55% 5.77% -0.76% Mar/31


Canola
Canola refers to edible oil which recently is also used to produce biodiesel. The biggest producers of canola seeds are: the European Union, Canada, China, India, and Australia. Canola futures are mostly traded on ICE Futures Canada. Canola prices displayed in Trading Economics are based on over-the-counter (OTC) and contract-for-difference (CFD) financial instruments.
Actual Previous Highest Lowest Dates Unit Frequency
732.15 727.70 1226.00 200.00 1980 - 2026 CAD/MT Daily

News Stream
Canola Rebounds Alongside Energy
Canola futures rose past $730 per tonne as renewed skepticism regarding a Middle East ceasefire re-established the risk premium across the energy and oilseed complex. This upward move followed a surge in crude oil which strengthened the biofuel-driven demand floor and pulled Chicago soyoil and canola higher in tandem. While President Trump extended the deadline for strikes on Iranian energy infrastructure to April 6th to allow for negotiations, the potential deployment of 10,000 additional US ground troops has fueled fears of a prolonged conflict and further supply chain disruptions. Farmers face increasing pressure as global supplies of nitrogen-based fertilizers shrink and diesel overheads climb, threatening to offset the gains from higher crop prices. Despite a temporary gesture of goodwill where Iran allowed ten tankers to pass through the Strait of Hormuz, the waterway remains effectively closed, keeping energy-driven inflation risks at the forefront of the market.
2026-03-27
Canola Declines
Canola futures fell below $720 per tonne as the cooling of Middle Eastern tensions triggered a broad sell-off in the energy and oilseed complex. This downward correction was driven by a sharp drop in crude oil prices following negotiation hopes between the US and Iran, a development that significantly weakened the biofuel-driven demand floor and reduced the speculative risk premium previously embedded in the market. While the effective closure of the Strait of Hormuz and a 30% spike in fertilizer costs initially pressured margins and incentivized an additional 200,000-hectare shift in Canadian planting intentions, the five-day postponement of military strikes eased concerns over imminent supply chain disruptions and high diesel overheads. Furthermore, spillover weakness from wheat and softer soybean oil markets reinforced the bearish sentiment, as international refiners pivoted away from high-cost vegetable oils in response to stabilizing global stock expectations.
2026-03-23
Canola Near June Highs
Canola futures traded above CAD 730 per tonne, near the highest level since July 2025, as a massive surge in energy costs and escalating geopolitical instability in the Middle East tightened the global vegetable oil complex. This price appreciation is driven by the intensifying link between energy and agriculture where the effective closure of the Strait of Hormuz has triggered a sharp influx of speculative capital into biofuel feedstocks to offset disrupted fossil fuel supplies. While Canadian farmers were initially projected to plant 8.82 million hectares, recent surveys indicate an additional 200,000 hectares may be diverted to canola as growers respond to forward prices that have jumped $50 since the onset of hostilities. Supply side pressure is further magnified by a 30% surge in fertilizer costs which increases the domestic floor for oilseeds used in biomass-based diesel.
2026-03-18