Canola futures suffered modest losses on Monday, weighed down by weakness in crude oil and Chicago soybean oil.
Weather damage to the European rapeseed crop continues to be a supportive influence for canola but more of the market’s attention is now focused on planting in Western Canada. Many parts of the Prairies are expected to get rain and/or snow in the next 10 days, which will help bolster soil moisture but keep planting slow.
July canola fell $1.40 to $633, November was down $2.40 at $649.10, and January lost $2.40 to $657.10.
