Weakness in the Canadian dollar helped to propel canola futures to gains during the first trading day of 2025 on Thursday.
The loonie, which dropped to a five-year low last month, remains under pressure against the persistently strong greenback. Good gains in crude oil and advances Chicago soybeans added to the upside in canola, even as soybean oil declined. European rapeseed was higher while palm oil posted losses.
It was a quiet day for canola, but the market did move up to test the highs of its recent range.
March canola was up $9.10 at $319.90, and November 2025 gained $6.30 to $611.40.
