Canola Futures Weaken Amid Reversal of Gains

Canola futures have weakened on Thursday, reversing their gains from Tuesday. The market was quiet following the National Day for Truth and Reconciliation in Canada. In contrast to canola, U.S. soybeans were lower, while corn and wheat posted small gains.

The price movements are attributed to a belief that recent losses were overdone. Phil Franz-Warkentin of the Western Producer Markets Desk provided the closing grain and oilseed market update on October 1st.