Canola futures fell on Monday, pressured by declines in other vegetable oils.
European rapeseed and palm oil both declined, while crude oil also posted losses on the day. Chicago soybean oil did reverse earlier declines to finish higher, but soybeans were weaker amid easing Midwest weather concerns about heat.
Portions of Western Canada did see rain over the weekend, although many areas are continuing to struggle with overly dry conditions. Showers are forecast for southern and some central Prairie areas this week, but many northern areas are likely to be shortchanged. Cooler temperatures are helping to lessen crop stress.
November canola dropped $6.20 to $694.10, and January fell $5.60 to $703.90.
