Canola futures ended mixed on Wednesday, holding relatively steady despite underlying pressure from softness in Chicago soyoil and concerns about Prairie crop conditions.
After heavy selling earlier in the week, traders appeared cautious, with light technical positioning and modest support from steady-to-firm soybean values. However, continued weakness in soyoil—tracking lower crude oil—and broad concerns over global oilseed demand helped cap gains.
Weather developments across Western Canada remain a key market factor. While recent rainfall offered some short-term relief, topsoil moisture conditions continue to deteriorate in parts of Saskatchewan and Alberta. Crop ratings remain highly variable, and further timely precipitation will be crucial as the growing season progresses.
November canola inched up $0.20 to $719.70, while January was unchanged at $727.40.
