Canola futures ended mixed on Tuesday, with losses in Chicago soybeans and soybean oil weighing on the nearby contracts but the new Canada-China tariff deal helping to support new-crop November.
The Chicago crop markets were pressured today by sharp losses in the outside equity markets as US President Donald Trump kept up with his threats over the long US holiday weekend to takeover Greenland. On the other hand, European rapeseed and palm oil were higher
Meanwhile, the recently announced Canada-China tariff deal has brought immediate, if measured, relief to Canadian canola markets. Futures prices have risen as the market reacts to sharply reduced tariffs on seed exports - from nearly 85% down to 15% - and the removal of tariffs on canola meal, effective March 2026. Reports say China has already purchased a cargo of Canadian canola seed for March delivery.
While optimism has improved, the market response has been cautious, with ongoing watchfulness on Chinese demand, global supplies, and residual risks.
March canola fell $2.80 to $636.20, and November was up 90 cents at $651.30.
