Expect canola futures to fall back in the coming months, said analyst Jerry Klassen of Resilient Capital in Winnipeg. Klassen pointed to the Statistics Canada production update and China as two reasons for the coming declines.

Crop receipts roughly level, direct payments fall on reduced crop insurance
Mixed projections for other cereals, oilseed, pulses
Lower slaughter, retained breeding stock supports inventories
StatCan revises 2024/25 canola output
Keeping on crop development over next few weeks
Farmers see declining ability to service debt for second consecutive year
Weather, China could guide oilseed’s trajectory