Canola futures ended mixed on Tuesday, with advances in the nearby contracts and losses in the deferred positions.
Canola saw some advances even as the Chicago soy complex ended lower today. However, European rapeseed was higher, while palm oil was mixed. A lower Canadian dollar offered support to canola, while crude oil suffered losses.
The seasonal window for canola price strength typically opens through late winter (February–May). However, large supplies and trade policy uncertainty could limit any near-term rally. Any upside potential will likely depend on improvements in export opportunities and biofuel demand.
March as up $3.10 at $613.90, and November dropped $1.50 to $629.60.
