Canola futures ended lower on Wednesday, pressured by profit-taking, weakness in Chicago soyoil and European rapeseed, and increasing Prairie harvest activity.
The decline followed a recent run above C$840/tonne, prompting some traders to lock in gains. A firmer Canadian dollar added pressure by reducing the competitiveness of Canadian exports. On the other hand, higher crude oil prices provided some support.
Despite the decline, canola remains underpinned by solid demand and ongoing uncertainty in global energy markets.
November was down $16.10 at $825.80, and January lost $16.40 to $835.90.
