Canola futures ended mixed on Friday, with weakness attributed to losses in Chicago soybeans and soybean oil after the U.S. Supreme Court ruled against President Donald Trump’s tariffs.
In a 6-3 decision announced earlier today, the court rejected Trump’s use of a law meant for use in national emergencies to enact sweeping global tariffs. The ruling sparked more trade uncertainty, raising questions about whether China would buy more American soybeans.
European rapeseed and palm oil were also lower on the day, while the Canadian dollar was higher, putting further pressure on canola, which earlier this week hit six-month highs.
March canola managed a $2 gain to $674, but November lost $1.20 to $687.60.
