Canola futures pulled back on Wednesday, posting steady losses across all active contracts. The November 2025 contract led the slide, falling by $5.70 to close at $696.60 per tonne—dipping below the psychologically significant $700 level. Nearby months followed suit, with January 2026 down $5.00 at $707.50 and March 2026 slipping $5.10 to $715.10.
The softness extended into the deferred months as well, with May, July, and even November 2026 futures each shedding more than $5.00 per tonne. This broad-based decline signals a lack of short-term buying interest and ongoing pressure from weaker oilseed markets, particularly in soy and palm oil. Technical selling may also be playing a role, as key support levels were tested or breached.
Overall, today’s action reflects a market struggling to find upward momentum amid global demand uncertainty and harvest pressure in some regions. Traders will be watching weather developments and export data closely, but for now, the tone remains bearish.
With futures sliding across the curve, producers may look to tighten marketing plans and monitor basis opportunities, especially if further downside develops. Market participants await clearer signals in the coming sessions to determine if this is a temporary dip or a trend in the making.
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