Canola futures began the week with solid gains, buoyed by strength in global vegetable oil markets and ongoing crop concerns in parts of the Prairies.
Soybean oil posted modest gains on Monday, offering underlying support to canola. While crude oil futures softened slightly, the energy complex remained relatively steady, helping to stabilize vegoil sentiment. In the Prairies, crop conditions remain mixed. Weekend rainfall helped some areas, but recent heat and ongoing variability in moisture distribution continue to raise questions about yield potential, particularly in central Alberta and parts of Saskatchewan.
November canola climbed $16.80 to $709.70, while January gained $16.20 to $718.30.
