Canola futures were modestly lower on Wednesday as Prime Minister Mark Carney arrived in China to begin his trade mission.
Reports yesterday said Canadian officials were tamping down expectations that Carney’s visit would result in the elimination of prohibitive Chinese tariffs on imports of Canadian canola seed and canola products. However, a reduction in levies is possible, the reports said.
Weakness in Chicago soybean oil and European rapeseed was negative for canola, while palm oil was mainly lower. Crude oil was down as well.
March canola was down $4.50 at $628.30, and November 2026 dropped $4.10 to $640.80.
