Canola futures closed lower for the first time in four sessions on Wednesday as weakness in Chicago soyoil weighed.
Losses in crude oil and palm oil added to the downside in canola, along with declines in European rapeseed. On the other side, losses in the Canadian dollar were a supportive influence.
Underlying support for canola continues to come from dryness in parts of Western Canada and worries about the impact of cold, wet weather on the European rapeseed crop.
May canola lost $7.70 to $626.70, July dropped $6.80 to $639.40, and November fell $3.70 to $655.20.
