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Chris Vervaet of the Canadian Oilseed Processors Association said the US is Canada's dominant canola oil and meal customer, taking 96.2% of canola exports and 65.5% of meal exports in the first 11 months of 2024. He cited the possible 25% US tariff on Canadian goods and recent US biofuel tax credit changes as the main threats to the sector.
A tariff on Canadian goods would cut off most canola oil and meal exports to the US, pressuring Canadian crush margins and prices. Changes to biofuel credits could also reduce demand for canola oil.
grainews.caGlen HallickJan 27, 2025Not enough comparable past events yet for a historical read.
After 152 past bearish trade events, SBO moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% 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.
