# Australia, EU canola prices rally as adverse weather crushes supply - AgCanada

> Canola prices in Australia and the EU have risen about 20% since March to two-year and 21-month highs, driven by tight supply from smaller harvests. China and the EU have stepped up imports, with China's shipments reaching record levels ahead of possible tariffs on Canadian canola.

- Date: 2024-11-26 · published 2024-11-26T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/27508-australia-eu-canola-prices-rally-as-adverse-weather-crushes-supply-agcanada
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Tight canola supply and a rally in vegetable oils raise the cost of canola meal and oil for feed, and buyers are not switching to cheaper soybeans, which supports meal prices until northern hemisphere crops arrive in mid-2025.

## Read by commodity

- SBO: bullish ▲
- CANMEAL: bullish ▲

## Sources

- agcanada.com: https://www.agcanada.com/daily/canola-prices-rally-as-adverse-weather-crushes-supply

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.