# Exports empty Canada's canola bins, driving prices to near records

> Canadian canola exports reached 4.2 million tonnes through week 22 of the 2020-21 marketing year, about 33% higher than a year earlier. China more than doubled its purchases to 1.2 million tonnes as of December, despite restrictions on some Canadian exporters. Canola prices are near record levels as supplies tighten.

- Date: 2021-01-31 · published 2021-01-31T12:00:00.000Z
- Category: trade · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/49120-exports-empty-canada-s-canola-bins-driving-prices-to-near-records
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Tight canola supplies lift the price of canola meal used in livestock feed, and strong export demand reduces the stocks available for domestic crushing.

## Read by commodity

- CANMEAL: bullish ▲

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/exports-empty-canadas-canola-bins-driving-prices-to-near-records
- reuters.com: https://www.reuters.com/article/us-canada-canola-prices/exports-empty-canadas-canola-bins-driving-prices-to-near-records-idUSKBN2A00EL/
- reuters.com: https://www.reuters.com/world/china/exports-empty-canadas-canola-bins-driving-prices-near-records-2021-01-31/

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