Canola futures continued to move lower on Friday as Chicago soybeans lost more ground on improving weather forecasts for Brazil.
Soybeans and soymeal both posted losses on the day, although soyoil did manage gains. Crude oil was also strongly higher after suffering significant losses a day earlier.
Canola futures are struggling to extend the rally that began Nov. 2, with the recent upswing now facing a stiff test.
January canola fell $9.60 to $697.20, March was down $10.60 at $701.80, and May lost $10.20 to $705.60.