Good gains in Chicago soybean oil helped to lift canola futures to gains to end the week.
Soyoil moved higher after the USDA reported tightening U.S. stocks after the close on Thursday. Uncertainty over the size of the 2026 Canadian canola crop added to the upside, as traders assess whether Statistics Canada’s current 22.1-million-tonne production estimate may ultimately prove too high.
The upside in canola was limited by a weaker tone in the broader oilseed complex and falling crude oil prices. Crude settled lower Friday after European countries agreed to release diesel reserves to ease tight refined product supplies.
Today’s Alberta crop report showed the harvest of major crops in that province (spring wheat, oats, barley, canola, and peas) at 60% done as of Tuesday, up from 39% a week earlier. Canola was reported at 31% complete.
November was up $3.80 at $815.50, while January gained $3.50 to $828.70.
