Canola futures on the ICE exchange eased slightly on Monday, opening December with a softer tone as spillover weakness from Chicago soybeans and a firmer Canadian dollar tempered buying interest.
Nearby contracts posted small declines, with light trading volume typical for early-month positioning. Industry participants pointed to steady farmer deliveries, adequate commercial coverage, and mixed global vegetable-oil signals as influencing the day’s direction. Softer soybean futures and flat Malaysian palm oil contributed to the cautious tone, while European rapeseed also traded narrowly.
Canadian cash bids for canola were mostly stable across the Prairies, with crushers maintaining firm basis levels as they continue to compete for nearby supplies. End-users remain the strongest buyers in the market, helping support the domestic pipeline even as futures drifted lower.
Analysts note that December often brings reduced farmer selling, but the market is still watching global oilseed trends, South American weather, and crush pace for signs of momentum heading into year-end.
