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Commodities

Canola Market Weakens on Profit-Taking and Related Commodity Losses

Guavy AI Editorial Team
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Oil
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The ICE Futures canola market experienced losses on Friday due to profit-taking ahead of the weekend.

Losses in crude oil and Chicago soyoil contributed to selling pressure in the Canadian oilseed, leading to a weaker market.

The November contract traded within a wide range between C$812.00 per tonne and a new three-year high of C$838.90 per tonne before settling at C$824.90 per tonne, down C$11 from the previous day's close.

Canadian canola exports were also lower than expected, with 168,100 tonnes shipped out in the past week compared to 338,200 tonnes the week prior.

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