Canola futures followed the Chicago soy complex lower on Tuesday, falling for the first time in seven sessions.
Rapid US harvest progress weighed on the soybean complex, as did wetter weather for Brazil, and heavy losses in crude oil following news reports of a potential ceasefire between Israel and Hezbollah. Profit taking after the recent gains added to the downside in canola, as did generally good Prairie weather for the last stages of the 2024 Prairie harvest.
Canola failed to hold early gains today, with the market showing some fatigue.
November fell $11 to $616.50, and January was down $12 at $627.80.
