Canola settled little changed on Wednesday.
Declines in the Canadian dollar were supportive for canola, along with gains in European rapeseed and palm oil. However, Chicago soybean oil and soybean futures both eased slightly.
Tuesday’s Manitoba crop report said the harvest in that province advanced just 6 points from the previous week to reach 56% complete as of Sunday. Extensive rainfall was a major factor in the slow progress, with road washouts and flooding reported in some parts of the province. However, mostly warm and sunny conditions are in the forecast for much of the Prairies for the remainder of this week, which should help to accelerate fieldwork.
November canola added 50 cents to $618.10, and January was up 20 cents at $631.30.
