ICE canola futures corrected lower, while rapeseed oil futures fluctuated but closed higher in overnight trading. The market noted two new Australian canola cargoes booked for JanuaryFebruary 2027 delivery, adding to supply-side pressure further out on the forward curve. On the spot side, mill transactions remained thin, operating rates were low, and rapeseed oil inventories edged higherthough they still sit at relatively low levels compared to historical averages. Mills are mostly executing on earlier contracts, and with tight spot availability, near-term rapeseed oil basis quotes are expected to remain firm.