Canola futures fell for the fifth straight day on Friday as the previous day’s Statistics Canada crop production report continued to pressure.
The model-based StatsCan estimates from the end of July pegged 2025 canola output at 19.937 million tonnes, below trade expectations. But given much improved moisture in August, most traders and analysts expect the crop to be revised higher in the future. StatsCan will release its next set of production estimates Sept. 17.
Meanwhile, China’s prohibitive tariffs against imports of Canadian canola, canola oil and meal continue to lurk in the background
Chicago soybean oil, palm oil, European rapeseed, crude oil were all lower on the day as well.
Markets will be closed Monday in both Canada and the US for the Labour Day holiday
November canola dropped $9.30 to $626.40, and January was down $9.90 at $638.30.
