Canola futures closed lower for the second straight day on Tuesday.
Weakness in the Chicago soy complex and global vegetable oil markets was a bearish influence for canola today, as was continued weak export demand. A storm system was also bringing welcome precipitation to parts of Western Canada today, with Manitoba expected to benefit the most. Several locations were expected to see up to 12 cm of snow.
May canola fell $7.40 to $612.50, July was down $7.90 at $623.50, and November lost $5.80 to $640.
