Canola futures ended modestly lower on Wednesday, with the market pressured in part by Statistics Canada’s first 2026 production estimate.
StatsCan pegged this year’s Canadian canola crop at 22.050 million tonnes, down just 0.8% from the upwardly revised 2025 crop and the second-largest crop on record. In its August supply-demand update, Agriculture Canada projected this year’s crop lower at 21.6 million tonnes. However, wet Prairie weather and harvest delays may ultimately lead to a smaller canola production number when StatsCan releases its final 2026 estimates in December.
Additional pressure came from weakness in outside vegetable oil and energy markets. Chicago soyoil was lower, while crude oil prices dropped sharply, reducing some of the support for biodiesel-linked oilseed markets.
November fell $2.40 to $826.80, and January lost $3.10 to $837.80.
