Home   News

Canola Moves Lower with Soyoil

Canola futures closed lower on Thursday, pressured by speculative profit-taking as a downturn in Chicago Board of Trade soyoil futures weighed on values.

Soyoil had climbed to its highest levels in 10 years at one point, but ran into resistance and settled with steep losses. Canola had lagged soyoil to the upside and also lagged to the downside, which helped temper the declines in the Canadian oilseed to some extent.

Persistent concerns over hot and dry weather conditions across Western Canada were also supportive, with much of the Prairies in need of precipitation. The Canadian dollar was weaker on Thursday, providing some support for canola.

July canola was down $18.40 at $889.80, November lost $6.30 to $743.70 and January dropped $6.40 to $738.10.

Click here to see more...

Trending Video

Inter-seeding, cover crops and manure

Video: Inter-seeding, cover crops and manure

Cover crops provide many benefits including protecting the soil from erosion, adding organic matter, feeding soil life, holding on to nutrients, providing nitrogen, improving soil structure, livestock feed source, pest suppression and soil compaction reduction. This video will look at how you might incorporate cover crops into your system.