Closing market update for Oct. 16: Canola retreats from early gains

Canola futures retreated from earlier gains by the close, as soft export demand and a lack of movement on trade talks with China weighed on prices. Soybeans and corn were higher in Chicago despite rising supply projections, while wheat was narrowly mixed. Here’s Phil Franz-Warkentin of the Western Producer Markets Desk with your Oct. 16 closing grain and oilseed market update.