Canola futures managed small gains on Wednesday, with gains in European rapeseed and palm oil. Supply tightness also remained a supportive factor for canola.
Updated supply-demand estimates released today by Agriculture Canada pegged canola ending stocks for the 2024-25 marketing year at 1.3 million tonnes, up 50,000 from the January estimate but still well down from 2.748 million in 2023-24 and potentially a new 12-year low.
March inched up 40 cents to $662.30, and November was $1.70 higher at $655.70.
