Canola futures were weaker at Friday’s close, as North American agricultural markets reacted to the USDA’s monthly supply-demand report.
The government agency upped its projection for US soybean yields which initially weighed on that market, pulling canola lower as well. While soybeans managed to recover from their losses, the Canadian market remained pointed lower.
Canadian crop conditions remain relatively favourable in most areas, although some concerns persist with many fields thought to be well behind normal in development.
November canola fell $3.90 to $863, January was down $4 at $871, and March lost $4.40 to $876.50.
Source: DePutter Publishing Ltd.
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