ICE Close: Canola Extends Losses  

After hitting a 21-month low on Tuesday, the ICE Futures canola market extended its losses on Wednesday.  

The Chicago soy complex retreated yet again, while European rapeseed and Malaysian palm oil were also lower. Crude oil gained more than US$1/barrel, due in part to declining US stockpiles. A slightly higher Canadian dollar added to the pressure on canola. 

May canola dropped $9.40 to $720, July fell $13.80 to $705.70, and November was down $13.90 to $683.10. 

Source: DePutter Publishing Ltd.

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