Canola futures closed with losses on Tuesday, falling to new lows for the selloff that began just over a month ago.
The canola market was closed Monday for the Canadian Thanksgiving holiday, while American markets were open. Pressured by the ongoing American harvest, soybeans were lower that day but managed small gains today on a lower US dollar. Soyoil posted sharp losses on Monday and posted further losses today.
Released after the close, the Manitoba crop report pegged the province’s canola harvest at 87% done.
November canola dropped $6 to $704.60, January was down $7.10 at $710.40, and March fell $8.80 to $716.60.
