# Canadian canola prices follow European plunge | The Western Producer

> 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.

- Date: 2023-06-08 · published 2023-06-08T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/35592-canadian-canola-prices-follow-european-plunge-the-western-producer
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weak EU rapeseed oil and a narrowing Canadian premium reduce export competitiveness for Canadian canola, weighing on canola complex prices.

## Read by commodity

- SBO: bearish ▼
- CANMEAL: bearish ▼

## Sources

- producer.com: https://www.producer.com/news/canadian-canola-prices-follow-european-plunge/

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