Canola futures posted small declines again on Friday, adding to the previous day’s modest losses.
Canadian and Chinese senior officials reportedly discussed canola and electric vehicle tariffs today, but a Reuters story said there was no indication of an immediate breakthrough. Canadian canola seed, as well as meal and oil, remain effectively blocked from the Chinese market due to prohibitive tariffs.
The Chicago soy complex was higher today, but European rapeseed was lower and palm oil mixed. The Canadian dollar was stronger, which put some pressure on canola. Crude oil ended with modest gains.
November canola fell $1.40 to $616.20, and January lost $1.20 to $630.30.
