Canola futures suffered heavy losses for the second consecutive session Thursday, falling to their lowest levels in approximately four months.
Weakness in competing oilseed markets and continued speculative selling weighed on prices. Chicago soybeans and soybean oil, along with European rapeseed and Malaysian palm oil, were lower on the day. On the other hand, crude oil prices rebounded following Wednesday's steep selloff.
The continued weakness came despite Wednesday's announcement that Canada and China had agreed to extend tariff relief on Canadian canola meal through the end of 2028.
