Canola futures posted just modest losses on Monday, even as bearish USDA reports weighed on the Chicago crops market.
Chicago soybeans were pressured as the USDA raised the size of the 2025 US crop modestly higher while cutting 2025-26 exports. A grain stocks report, also released today, showed nationwide Dec. 1 soybean stocks heavier than expected as well. Soybean meal also fell today, but soyoil managed gains, which offered some support to canola. Palm oil was higher as well, with just small advances in crude oil. On the other hand, rapeseed was lower on the day.
The canola market remains underpinned by trade optimism, as Prime Minister Mark Carney is slated to travel to China this week. There are hopes Carney’s visit will help pave the way for the reduction or removal of Chinese tariffs on Canadian ag products, including canola seed.
March canola fell $2.90 to $620.80, and November 2026 lost $1.10 to $636.
