ICE Close: Canola mostly lower on Thursday

Canola futures were mostly weaker at Thursday's close, but off its lows for the session after uncovering some support to the downside.

Sharp strength in the Canadian dollar accounted for some selling pressure in canola. Speculative long liquidation also weighed on prices in early activity.

However, ongoing drought concerns across Western Canada, with forecasts calling for more heat and dryness over the next week, remained supportive. Gains in Chicago Board of Trade soybeans and soyoil also underpinned canola.

November canola dropped $4.60 to $878.40, January lost $4 to $865.20 and March fell $4 to $850.80.

Source: DePutter Publishing Ltd.

Information contained herein is believed to be accurate but is not guaranteed by the parties providing it. Syngenta, DePutter Publishing Ltd. and their information sources assume no responsibility or liability for any action taken as a result of any information or advice contained in these reports, and any action taken is solely at the liability and responsibility of the user.