Canola futures ended lower on Tuesday as weakness in outside oilseed markets outweighed support from rising energy prices.
Chicago soybeans and soybean oil both declined, with a stronger-than-expected U.S. soybean condition rating in Monday's USDA crop progress report easing immediate concerns about crop stress. European rapeseed futures also finished lower, while Malaysian palm oil ended higher and provided only limited support.
Crude oil and gasoline settled higher, with crude climbing to a five-week high as threats to global supplies intensified. Agriculture and Agri-Food Canada’s July supply-demand update, released Monday afternoon, added a bearish element, raising projected 2026-27 canola ending stocks to 2.07 million tonnes from 1.31 million in June. However, that would remain below the 2.71 million expected at the end of 2025-26.
November fell $7 to $803.20, and January was down $6.90 at $812.90.
