Canola futures fell for the fourth straight day on Monday, amid continued weakness in the Chicago soy complex.
Soybean and soybean oil futures both fell today, with soybeans pressured by reports that Argentina has suspended export taxes on all grains until Oct. 31, a move that is expected to spur additional exports from the world’s third largest soybean producer, even amid an already well supplied global market.
The November canola contract has tracked generally sideways-to-lower since late June, reflecting seasonal, technical, and policy-driven headwinds. Last week’s Statistics Canada crop production report also raised the 2025 Canadian canola crop to over 20 million tonnes.
November and January canola each lost $8.20 to $610.40 and $623.30, respectively.
