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Statistics Canada's June acreage report put 2026 canola seedings at a record 23.44 million acres, well above the March estimate of 21.84 million and the trade's 22.1 to 22.8 million expectation. Canola futures fell as a result, with November down $8.60 and January down $8.80.
Soyoil losses added pressure, while Prairie weather uncertainty limited the decline.
A much larger-than-expected crop area raises expected supply for the fall harvest and weighs on canola prices. Flooding or poor summer weather could still cut harvested area and offset the bearish supply signal.
syngenta.caJun 30, 2026After 146 past bearish report events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
