Canola futures managed just small gains on Wednesday after larger advances faded into the close.
Chicago soybeans and soybean oil were lower on the day, with European rapeseed and palm oil also weaker.
The threat of US tariffs continues to overhang the market, with new US President Donald Trump suggesting tariffs on Canadian and Mexican goods could come into effect on Feb. 1. On the other hand, the supply-demand balance for Canadian is tightening, and forecast to tighten further in 2025-26 by Agriculture Canada.
March canola was up 60 cents to $628.90, and November added $4.10 to $636.20.
