Declines in the Chicago soy complex weighed on canola futures Wednesday.
Further weakness in palm oil and declines in European rapeseed added to the downside in canola, which overall remains a relatively strong performer in the commodity world. Despite considerable volatility, the trend for canola is up from the low made in September.
A weaker Canadian dollar did offer support to canola today, with the domestic supply-demand situation also considered positive for prices.
January canola dropped $9.30 to $649.10, and March was down $9.60 at $661.50.
