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ICE Close: CN Rail Settlement Fails to Rally Canola

Canola futures settled lower on Tuesday, despite a tentative agreement in the week-long CN Rail strike.
 
The two sides in the dispute reached a deal this morning, with workers expected to be back on the job beginning this afternoon and early tomorrow. The walkout had negatively impacted grain movement across the Prairies and put some pressure on canola prices.
 
However, canola futures didn’t respond well to the news of the settlement, with some pressure on values coming from losses in Chicago soybeans.
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