Canola futures posted relatively modest losses on Thursday amid a record large 2025 production estimate from Statistics Canada.
Released this morning, StatsCan’s final crop production report for the 2025 growing season pegged national canola output at 21.803 million tonnes, up about 1.7 million from the federal agency’s model-based September projection and now 13.3% above the 2024 crop of 19.239 million. If accurate, it would be the largest crop on record, surpassing the 2017 crop of 21.458 million.
Most traders and analysts were expecting an upward revision from September, although the increase was on the larger side.
The declines in canola were limited by advances in Chicago soybeans and soyoil. Plam oil was also higher while European rapeseed fell.
January dropped $4.20 to $625, and March was $3.50 lower at $639.20.
