ICE canola futures closed the Monday session near ~CAD 598–600 per metric ton for the front-month January/nearby contracts, with prices slightly softer compared with last week’s activity as traders contended with lingering oversupply and seasonal thin volume ahead of year-end. Continued ample Canadian canola stocks and subdued export bids — particularly with China largely absent from the buying picture — kept pressure on the market despite occasional support from positive crude oil and vegetable oil cues. Overall, the session rounded out modestly lower or unchanged in a narrow trading range, underscoring the lack of fresh catalysts and cautious positioning by commercial and speculative players.
The trading pattern suggests that participants are still digesting the implications of record Canadian production estimates and weak global physical demand, with export commitments slow to materialize and competitive supplies from other rapeseed/oilseed regions weighing on sentiment. Price action into year-end after the holiday lull reflected technical consolidation around the CAD 590–610 area, setting the stage for potential volatility once normal liquidity returns in early January and as market focus shifts toward key export data and bilateral trade developments.