The outlook for canola futures on the Intercontinental Exchange appears to be on a downward slide, said Bill Craddock, a Manitoba-based trader and farmer.

New crop looking good, but needs rain
Phytosanitary rules have restricted Australia’s canola exports to China
Growing conditions vary across province
If dryness not alleviated, canola would turnaround
But ground drier
Multiple factors driving canola’s rally
About 50 to 70 per cent of normal precipitation
Rainfall amounts vary widely
Also changes dry pea data
Weather, China could guide oilseed’s trajectory