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Canadian canola oil exports to the US hit a record 2.6 million tonnes in 2022-23, with the US taking 86% of shipments. Sales to China fell to 144,985 tonnes that year.
The Canadian Oilseed Processors Association expects output to rise toward seven million tonnes over five years as new plants come online.
Growing US renewable diesel and sustainable aviation fuel demand for vegetable oils is pulling Canadian canola oil away from other markets, supporting oil prices and competing with soybean oil feedstock.
producer.comSean PrattNov 17, 2023After 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.
