Canola futures finished little changed in trading Wednesday, as Chicago soybeans were higher but meal and soyoil closed lower.
Strength in Malaysian palm oil, which is hitting new contract highs, was supportive factor for canola, as was weakness in the Canadian dollar. On the other side, European rapeseed also declined with soyoil.
In monthly supply-demand estimates released Monday, Ag Canada pegged 2024-25 canola ending stocks at 2.2 million tonnes, down 300,000 from last month. Old-crop stocks were trimmed as well, down to 2.748 million tonnes from 3.092 million in September.
November canola dipped 50 cents to $632.20, but January was $1.30 higher at $645.80.
