Canola futures posted small losses on Monday, when US markets were closed for the Memorial Day holiday.
Amid mostly quiet trade, canola also got little direction from European rapeseed and palm oil, which were both mixed. Crude oil was just steady to lower as well, while the Canadian dollar was a bit lower.
Amid tightening old-crop supplies, a Statistics Canada crush report today pegged the April canola crush at 919,345 tonnes, down 10.2% from the previous month’s 1.024 million and almost 4% below the same month last year. It marked just the fourth time in the 2024-25 marketing year the monthly crush failed to top 1 million tonnes.
July canola lost $2.30 to $718.50, and November eased 30 cents to $688.
