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Canadian canola futures have followed a sharp fall in European rapeseed prices, with the EU now setting the benchmark price in international markets. The canola premium over European rapeseed narrowed from $92 to $33 per tonne by June 7, and European rapeseed oil has become the cheapest vegetable oil in the EU.
Weak EU rapeseed oil and a narrowing Canadian premium reduce export competitiveness for Canadian canola, weighing on canola complex prices.
producer.comSean PrattJun 8, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
