Canola futures posted gains Tuesday on the heels of strength in the Chicago soy complex.
Chicago crop futures were broadly higher today as traders began positioning ahead of the US Thanksgiving holiday on Thursday. Good gains in European rapeseed were supportive for canola as well, although palm oil was lower. Crude oil also lost ground today.
A Statistics Canada crush report on Tuesday pegged the October canola crush at 1.026 million tonnes, up 1.9% from September and the highest so far in the 2025-26 crop year.
Lagging export demand remains a bearish influence for canola.
January canola was up $3.90 at $648.10, and March was $4.30 higher at $661.30.
