Canola futures resumed their losing ways to end the week.
Canola had closed lower for five straight sessions – at least partially due to improving Prairie rainfall - before finally ending in the green on Thursday. However, the market came back under pressure today as more rain continues to help improve the production outlook for some areas.
Losses in Chicago soybeans and soybean oil contributed to the weakness in canola, as did weakness in European rapeseed. Palm oil provided little direction, while crude oil was a bit lower.
November lost $7.90 to $669.40, and January dropped $8.10 to $681.
