Canola futures closed higher for the first time in seven sessions on Tuesday.
Canola shook off losses in the Chicago soy complex, palm oil, and European rapeseed. Today’s USDA WASDE report provided little direction for Chicago soybeans, with the government making no changes to its 2025-26 US soybean supply-demand numbers compared to November.
Much of the strength in canola was attributed to technical buying following the recent declines. However, the record large 2025 Canadian crop and the lack of buying from China remain negative factors.
January canola was up $6.20 at $619.90, and March was $5.70 higher at $631.80.
