Canola futures were mixed on Monday in the heavily traded old-crop months, while there was a sharp decline in the sparsely traded new November contract.
Chicago soyoil came off of earlier lows, but still weighed on canola values, as did declines in Malaysian palm oil. European rapeseed finished mixed, with losses in its front months.
The December supply-demand update from Agriculture Canada featured revisions to exports and domestic use compared to last month but 2021-22 canola ending stocks were maintained at 500,000 tonnes. Tight canola supplies and the need to ration demand underpinned values.
January canola fell $1.10 to $1,013.20, March was down 50 cents at $1,002.20 and May gained $2.10 to $967.50.
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