Canola futures ended lower on Thursday, weighed down by continued losses in crude oil and broad weakness across the grain and oilseed markets.
Crude fell further as an interim U.S.-Iran agreement eased concerns about global energy supplies, reducing support for vegetable oils tied to renewable fuel demand and spilling over into canola. Similar crude-related pressure has recently weighed on canola and European rapeseed values.
Today’s Saskatchewan crop report showed seeding in the province nearly wrapped up for the year, but a downgrade in the condition of the canola crop. The Saskatchewan canola crop was rated 76% good to excellent as of Monday, down 13 points from the initial 2026-crop rating on June 1.
U.S. markets will be closed tomorrow for the federal Juneteenth holiday.
