Canola reversed from earlier gains to close lower for the second consecutive day on Wednesday.
Mounting concern over US tariffs on Canadian goods, including canola oil, continued to overhang the market with inauguration day for US President-elect Donald Trump set for Monday. Gains in the Canadian dollar were also negative for canola prices.
On the other hand, gains in Chicago soybean oil offered some support to canola, although soybeans did close a bit lower.
March canola dropped $11.50 to $630.10, and November was down $6.80 at $630.30.
