Direct answer: At the Monday, October 26, 2026 settle, January ICE canola (RS) closed at C$793.80 per tonne, up C$1.20 (+0.15%). That works out to about C$18.00 per bushel. This page is updated after each session from the same verified close The Daily Board prints.
Latest close
Contract | Settle (C$/t) | Change | C$/bushel | Session |
|---|---|---|---|---|
ICE canola, Jan | 793.80 | +1.20 (+0.15%) | 18.00 | Mon, Oct 26, 2026 |
Full read on the session: Crude Eases to $101.76 as Gold Reclaims $4,000 | Oct 26, 2026. Every edition about canola is on the Canola page.
How the canola price is quoted
Exchange and unit: canola futures trade on ICE and are quoted in Canadian dollars per tonne.
Contract month: the price above is the most actively traded contract. When the active month rolls forward, the price level can jump without the market moving. Check the month before the change.
Settlement: the figure is the exchange settlement, not the last trade of the day.
Converting C$ per tonne to C$ per bushel
A canola bushel is 50 pounds and a tonne is 2,204.62 pounds, so one tonne holds about 44.09 bushels. Divide the per-tonne price by 44.092 to get the per-bushel price.
Example: C$793.80 per tonne divided by 44.092 is about C$18.00 per bushel. A C$10 per tonne move is roughly 23 cents per bushel.
Why your elevator bid is different
The futures close is one leg of a cash bid. The other is basis, the gap the buyer applies for location, freight, quality and timing. A strong futures day can still leave a weak cash bid if basis widens. The full explanation is in How Does Canola Basis Work on the Prairies? and ICE Canola Close and the Prairie Cash Bid.
What moves the canola price
Vegetable oil: soybean oil and palm oil, which compete with canola oil.
Crush demand: how hard Canadian crushers are bidding, which follows the crush margin.
The loonie: a weaker Canadian dollar makes Canadian canola cheaper for foreign buyers.
Crude oil: through biodiesel and renewable diesel demand.
Weather and trade policy: Prairie growing conditions and China or EU trade headlines.
Frequently asked questions
What is the canola price today?
The Daily Board reports the ICE canola futures settle for the most active contract after every session, in Canadian dollars per tonne, with a per-bushel equivalent. The latest close and its session date are at the top of this page.
Is the ICE canola price my elevator bid?
No. ICE canola is the futures price. Your cash bid is that futures month plus or minus basis, which reflects freight, local supply and the buyer's needs.
How many bushels are in a tonne of canola?
A canola bushel is 50 pounds, so one tonne holds about 44.09 bushels. Divide a C$ per tonne price by 44.092 to get C$ per bushel.
When is this page updated?
After each trading session, once the close has been verified against a second source for that evening's Daily Board. A figure that cannot be verified is flagged with a dagger and reported as a direction only.
Source: Barchart end-of-day report, cross-checked against an independent closing-price report. Methodology is on the About page. This page reports prices; it is not a marketing recommendation. For the plan, see the Klarenbach Grain Report.
