The market spent much of the session reacting to disappointment from the Trump-Xi summit, where traders had hoped for stronger signs of renewed Chinese agricultural buying. Weakness in Chicago soybeans initially dragged canola lower, but support gradually emerged from a softer Canadian dollar and firmer crude oil prices, helping stabilize vegetable oil values into the close.
Export demand remains a mixed story. Weekly Canadian canola shipments slowed noticeably, reinforcing concerns that movement is losing momentum compared to last year’s pace. Even so, domestic crush margins remain relatively attractive, limiting aggressive selling pressure underneath the market.
With Canadian markets closed Monday for Victoria Day, part of Friday’s trade appeared tied to position squaring ahead of the long weekend rather than a major change in underlying fundamentals.
