Canola futures followed the Chicago soy complex to the downside on Friday.
The soy complex was under pressure all day after China said today it would impose a 34% tariff on all imported goods originating from the US effective April 10. The new tariff will be in addition to an already 10% levy China announced on American soybeans last month, enough to seriously curb exports to the biggest buyer of US soy.
Crude oil also fell in response to the China tariff announcement, with losses in European rapeseed and palm oil as well.
May canola dropped $13.90 to $622, and November fell $10.60 to $615.20.
