# Bids tumble but canola demand is firm | The Western Producer

> Canola futures fell from a high near $838 per tonne early in 2023 to a low of $621 on May 31 amid fund liquidation and a record Australian crop. Prices rebounded in June after Agriculture Canada's crop report, and demand is described as firm despite recent bid declines.

- Date: 2023-12-14 · published 2023-12-14T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/32657-bids-tumble-but-canola-demand-is-firm-the-western-producer
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Large Australian and Canadian supplies have capped canola values, and firm crush demand is the main support for Canadian canola meal prices heading into 2024.

## Read by commodity

- CANMEAL: neutral

## Sources

- producer.com: https://www.producer.com/news/bids-tumble-but-canola-demand-is-firm/

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