ICE Canola Futures Decline Amid Crude Oil Price Drop

ICE Canola futures declined on Friday due to lower crude oil prices. This weighed on the Chicago soy complex and Malaysian palm oil, but European rapeseed was higher.

An analyst noted that warm temperatures and sunny skies throughout the Prairies will help advance the region's canola harvest, which may put downward pressure on prices.

The Canadian Grain Commission reported a negligible amount of canola exports during the week ended Sept. 13, with year-to-date totals up slightly at 709,600 tonnes.