Canola futures ended mixed on Wednesday, with the nearby March contract lower and new-crop November marginally higher.
Chicago soybeans posted double-digit gains today, but soybean oil and European rapeseed ended in the red. Some pressure on the vegetable oils came from weakness in crude. On the other hand, losses in the Canadian dollar were supportive for canola.
A Statistics Canada crush report today showed the December canola crush at 1.014 million tonnes, down just 0.4% from the previous month’s 1.019 million, although still 8.3% above the same month last year. The cumulative 2024-25 crush (August-December) now stands at 4.919 million tonnes, up 7.6% from the same period last year.
March canola slipped $3.10 to $636.60, and November added 80 cents to $639.60.
