Canola futures ended moderately lower on Thursday, amid weakness in palm oil and European rapeseed.
US markets were closed today for the Independence Day holiday, with trading in the Canadian market lighter than usual.
This afternoon’s Saskatchewan crop report noted continued cool and wet weather in most of the province, delaying crop development. However, the weather forecast is much hotter and drier next week, which is expected to allow crops to begin catching up. Still, some areas of the province could use more moisture.
November canola fell $2.80 to $649.90, and January was down $2.50 at $660.
