Canola suffered losses on Monday, pressured by weakness in competing vegetable oil markets, a stronger Canadian dollar and continued seasonal harvest pressure.
Declines in Chicago soybean and soyoil futures, along with losses in European rapeseed, weighed on canola values. Crude oil prices also retreated. Meanwhile, the firmer Canadian dollar made canola less competitive in export markets.
Improving harvest conditions across Western Canada added to the negative tone, with forecasts calling for generally dry weather and warmer temperatures that should allow farmers to make further progress after earlier rain and snow delays.
January canola dropped $11.40 to $800.20, and new-crop November 2027 was $5.10 lower at $783.90.
