WINNIPEG, Manitoba--Intercontinental Exchange canola futures turned weaker on a "Turnaround Tuesday," giving up all of Monday's hikes and more.
Losses in the Chicago soy complex and European rapeseed weighed on canola values. Upticks in Malaysian palm oil tempered the downside. Smaller increases in crude oil lent some support to the vegetable oils.
The break in the Prairie heatwave reduced its influence on the market.
The November canola contract remained above its major moving averages.
As military strikes carried out by the United States and Iran in the Middle East continued, an analyst said the situation with the grain and oilseed futures was essentially back where it was four months ago.
