ICE Canola Futures Close Lower Amid Chicago Soy Complex Declines

The Intercontinental Exchange (ICE) canola futures closed lower on Friday due to declines in the Chicago soy complex.

The Canadian Grain Commission reported that canola exports for the week ended August 30 fell to 58,300 tonnes from 118,100 the previous week. Cumulative exports reached 584,800 tonnes compared to 482,300 a year ago.

An analyst noted that it's typical for exports to slow ahead of harvest, citing that Saskatchewan reported its canola harvest was four percent complete and yielding 38 bushels per acre.