Canola futures returned to their losing ways on Wednesday, after finishing higher for the first time in six sessions a day earlier.
Losses in the Chicago soy complex amid China demand concerns helped to pull canola lower, with crude oil, European rapeseed and palm oil also posting losses on the day.
Canadian Prime Minister Mark Carney said in Toronto today the federal government will work to find a solution to the China’s anti-dumping duties on imports of Canadian canola. China announced the prohibitive duty last month, which as seen as retaliation against earlier Canadian tariffs on Chinese EVs, steel, and aluminum.
November canola dropped $13.40 to $616.90, and January lost $13.90 to $628.40.
