Canola futures continued to struggle this week, posting losses on Thursday after a mixed close the previous day.
Nearby futures have now retraced about half of the gains made in late February and early March, with weakness in the Chicago soy complex and palm oil undermining the market today. Crude oil was also lower.
Crop conditions on the Prairies will be a major factor in helping to determine where canola goes from here.
May canola fell $2.90 to $608.70, July was down $1.50 at $622.30, and November lost $1.60 to $636.60.
