Canola futures closed mixed on Monday, with the nearby May contract a bit higher and new-crop November lower.
China’s 100% tariffs on imports of Canadian canola oil and canola meal, officially imposed last week, remained a negative factor for the market. In updated monthly supply-demand estimates released last week, Agriculture Canada doubled its 2025-26 canola ending stocks forecast from February and slashed its old, and new-crop average price outlooks, citing “heightened policy uncertainty over proposed tariffs and renewable energy mandates.”
Advances in Chicago soybean oil further underpinned canola, although soybeans did close lower.
May canola gained 50 cents to $572.20, and November lost $2.90 to $583.70.
