Canola futures were little changed for the second straight day on Tuesday.
Just like a day earlier, the outside vegoil markets provided little direction for the Canadian oilseed. Chicago soybean and soybean oil futures both closed higher on the day, but European rapeseed and palm oil were both lower. Crude oil also ended lower.
Much of Western Canada remains too dry but there is potential for rainfall later this week into next week. Today’s Manitoba crop report showed seeding in the province wrapped up for the year.
July canola eased 80 cents to $709.20, and November lost $2.70 to $691.20.
