Canola futures fell heavily on Monday, plunging alongside Chicago crop futures.
Chicago soybeans saw particularly sharp losses amid growing US production ideas in the wake of good Midwest rainfall over the weekend and generally benign forecasts for the next couple of weeks. Soybean oil and meal were lower as well.
Losses in European rapeseed pressured canola as well, while palm oil provided little direction.
On the other hand, large portions of the Prairie canola crop are still in need of generous, widespread rain.
US markets were closed on Friday for the Independence Day holiday, with canola futures trading little changed that day.
November canola dropped $22.90 to $696.80, and January lost $22.70 to $704.70.
