Canola futures returned to their losing ways on Thursday after finishing higher for the first time in four sessions a day earlier.
Hefty losses in Chicago soybean oil futures dragged canola lower today, with weakness in European rapeseed and palm oil adding to the pressure.
On the other side, increasingly dry conditions across parts of Western Canada are keeping some support in the market. Today’s Saskatchewan crop said yield potential in some parts of the province continued to deteriorate this past week.
November canola lost $15.10 to $608.80, and January dropped $15.20 to $616.80.
