Canola futures ended lower for the fourth straight session on Tuesday, as the market awaits Statistics Canada updated 2025 crop production estimates on Thursday.
The StatsCan crop production report, which will be released at 8:30 am EST, will be based on a survey of farmers. Previous reports, released in August and September, were model-based estimates with the September report putting the 2025 Canadian crop at 20.02 million tonnes. Most traders and analysts are expecting that number to be revised higher on Thursday.
Crude oil was lower today, but Chicago soybean oil, European rapeseed, and palm oil were all higher.
January canola dropped $2.40 to $644.80, and November fell $2.50 to $658.40.
