Canola futures ended lower on Thursday, adding to the previous day’s double-digit losses.
Further weakness in the Chicago soy complex was again a negative factor for canola, with ongoing Canadian harvest also keeping the market pointed lower. Today’s Saskatchewan crop report estimated the overall harvest in the province at 53% complete, still behind the five- and 10-year averages. Canola in the province was estimated at 21% harvested.
Palm oil was also lower today, although European rapeseed did finish with gains.
Yesterday’s Statistics Canada crop production report estimated the 2025 Canadian canola crop at just over 20 million tonnes, up slightly from the federal agency’s August projection and the largest crop since 2018 if realized.
November canola dropped $4.20 to $623.90, and January was $3.90 lower at $636.40.
