ICE canola futures made some significant swings in early December. COVID concerns and crude oil price swings contributed to the choppy markets for canola. The January canola contract reached as low as $987 per metric ton (MT) during the first week of December but closed at $1,010 per MT on Dec. 8, while the March contract closed at $982 per MT. The canola market’s resilience has been impressive as no real fresh bullish news has come into the market recently. Some long liquidation has been reported recently, causing some weakness while the uptrend remains in place.
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Canola market swings with global events
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