There was very little change in the April supply and demand estimates from the United States Department of Agriculture on April 9, with the report essentially being a carbon copy of the March estimates.
Canola futures broke below their nearby trading range as a selloff in crude oil weighed on prices. While seasonal price trends point higher, direction will continue to come from developments in the Middle East.
Canola supplies for India and Japan are expected to remain relatively stable in the 2026/27 crop year, the United States Department of Agriculture said.
Declines in projected planting intentions for 2026/27 were not as big as the market expected, after the United States Department of Agriculture released its estimates on March 31. The USDA also issued its quarterly grain stocks report with stocks for soybeans bigger than anticipated, while those for corn were smaller and wheat virtually matched the average trade guess.
More canola was crushed in February than a year ago, Statistics Canada reported on March 31. StatCan pegged last month’s domestic crush at 951,353 tonnes, up about 7.8 per cent from February 2025.