Canola futures fell hard on Thursday amid declines in the Chicago soy complex.
Losses in palm oil and European rapeseed added to the pressure on canola.
The soy complex was undermined by good weather for crops in South America and worries about American biofuel policy following Donald Trump’s election victory earlier this month.
A weaker Canadian dollar is offering support to canola, as is a tighter global supply, but the potential for more losses in soybeans and soybean oil, as well as continued good South American weather, remain primary risk factors.
January canola fell $21.50 to $627.60, and March was down $20.70 to $640.80.
