Canola futures ended lower for the third straight day on Monday, as Canada appeared on the edge of trade war with the US.
US President Donald Trump said today there was no more room for delay, with 25% American tariffs on imports of most goods from Canada and Mexico, including grains, expected to go into force on Tuesday. The US is the largest buyer of Canadian canola oil and meal, but tariffs are expected to stifle cross-border business.
The Chicago soy complex was also down heavily on trade war worries today, putting more pressure on canola.
On the other side, tight 2024-25 supply-demand fundamentals continued to offer some support to canola.
May canola lost $5.20 to $645.90, and November was down $2.60 at $638.90.
