Canola posted small losses to end the week.
Declines across the Chicago soy complex, European rapeseed and palm oil weighed on canola, although the losses were partially blunted by a decline in the Canadian dollar after it hit a 16-month high against the American currency earlier this week.
Despite trading above $650 earlier in the session, the nearby March contract again settled below that key level today.
Statistics Canada reported Friday that 1.076 million tonnes of canola were crushed in December, up about 2.2% from November and topping the previous marketing year high of 1.056 million posted in October. It also marked the fourth straight month the crush has exceeded 1 million tonnes.
March canola eased 70 cents to $647.20, and November dipped 20 cents to $656.40.
