Canola prices were lower Tuesday morning, following soybeans that fell on an improved weather outlook.At 11 am Winnipeg time, November canola was trading at $451.50 per tonne. January was $451.60.On Monday, November closed at $452.10, down $2.90 from the previous trading day. January closed at $452.60, down $2.70.Barley was unchanged on Monday.Markets have generally slipped this week on profit taking after gains last week fuelled by worries of the condition of the Russian and European wheat crops, which have been hurt by hot dry weather. Also, Ukraine and eastern European crops have struggled with too much rain.The forecast for the U.S. Midwest is for continuing hot weather but with showers.U.S. national soybean crop condition improved last week with the good-to-excellent rating improving to 67 on July 18, up from 65 percent last week.On average, analysts thought the rating would decline.For corn, the good-to-excellent rating slipped to 72 percent from 73.The forecast for Saskatchewan is for unsettled weather today and Wednesday with a chance of showers, especially in the Saskatoon region.
Canola follows soybeans
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