Canola Futures Fall as Crude Oil Prices Weigh on ICE

ICE Canola futures declined on Friday due to lower crude oil prices. This weighed heavily on the Chicago soy complex and Malaysian palm oil, but European rapeseed was higher. An analyst noted that warm temperatures and sunny skies in the Prairies over the next few days will help advance the region's canola harvest and pressure prices.

The Canadian Grain Commission reported a negligible amount of canola exports during the week ended September 13, with year-to-date totals up slightly at 709,600 tonnes. The Canadian dollar was down less than one-tenth of a U.S. cent compared to Thursday's close.