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ICE November canola rose nearly C$20 per tonne to close at C$734.50 on July 2, after Canada and the US announced renewed trade negotiations on June 30. Talks cover new US biofuel mandates and how much Canadian canola will qualify.
Statistics Canada also cut its 2025-26 canola acreage estimate, and dry Prairie weather added support.
Canadian canola access to US biofuel demand could lift vegetable oil prices, while tighter Canadian supplies add support. Any exclusion from US mandates would weigh on canola.
grainews.caAdam PeleshatyJul 2, 2025After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
