ICE Close: Canola Back in the Red  



Canola futures ended lower after a back-and-forth session on Monday, despite high temperatures and dry conditions on the Prairies.  


Chicago soyoil was down, while European rapeseed and Malaysian palm oil were both on the rise. Crude oil was up US$1 per barrel after Saudi Arabia announced it will cut production by 1 million barrels per day starting in July.  


July canola fell $2.90 to $655.10, November lost $6.50 to $631.10, and January dropped $6.60 to $636.70. 




Source: DePutter Publishing Ltd.

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