Canola futures closed lower on Friday, with the market pressured by weakness in the Chicago soy complex and expected good weather for the tail end of the Prairie harvest.
Mostly lower European rapeseed prices and a firmer Canadian dollar added to the bearish sentiment. On the other hand, Malaysian palm oil finished higher in nearby contracts.
Seasonal harvest pressure remained another negative influence, with forecasts calling for warmer, drier weather across much of the Prairies over the weekend. Saskatchewan's canola harvest was 89% complete as of Monday, while Alberta was 74% finished as of Tuesday.
November canola lost $2.90 to $798.80, and January wasd down $2.10 at $811.60.
