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ICE Close: Canola Dragged Down by Soybean Oil Losses

Canola futures suffered heavy losses to begin the week on weakness in Chicago soybean and soybean oil futures. 

The two US markets fell to their lowest in seven weeks amid uncertainty over US biofuel policy and rising trade tensions between the US and China after each country accused the other of undermining the terms of a mutual tariff pause struck last month. 

July canola lost $24.30 to $686.80, and November was down $20.70 at $667.90. 

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Georgia Farmers Head to D.C. to Fight for Ag Policy Reform - Farm Bill, Labor & National Security

Video: Georgia Farmers Head to D.C. to Fight for Ag Policy Reform - Farm Bill, Labor & National Security

With America’s food supply and farming future on the line, Georgia Farm Bureau leaders and producers traveled to Washington, D.C. to advocate for urgent agricultural reform. From the outdated 2018 Farm Bill to skyrocketing labor costs, the issues are piling up—and farmers are making their voices heard.