# A million tons of frozen canola adds to farming woes in Canada

> Canadian canola shipments to Europe's biodiesel market have picked up, but the outlook is described as uncertain. The plunge in crude oil prices has undercut ethanol demand and eroded margins for fuel made from canola.

- Date: 2020-04-10 · published 2020-04-10T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/53591-a-million-tons-of-frozen-canola-adds-to-farming-woes-in-canada
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Weak crude prices reduce biofuel margins for canola oil, limiting demand support and pressuring canola and vegetable oil prices.

## Read by commodity

- WTI: bearish ▼
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-01-19 | [Fed Adds to Factors Pushing Oil](https://feedsoft.ai/events/72904-fed-adds-to-factors-pushing-oil.md) | +2.4% | +3.9% |
| WTI | 2023-07-18 | [Canada's inflation falls to 27-month low but underlying pressures persist \| Reuters](https://feedsoft.ai/events/35278-canada-s-inflation-falls-to-27-month-low-but-underlying-pressures-persist.md) | +6.2% | +11.2% |
| WTI | 2022-06-30 | [ICE weekly outlook: The larger picture behind drop in canola  - AgCanada](https://feedsoft.ai/events/41043-ice-weekly-outlook-the-larger-picture-behind-drop-in-canola-agcanada.md) | -6.3% | -11.5% |
| WTI | 2017-01-18 | [C$ pares recent gains ahead of Bank of Canada rate decision](https://feedsoft.ai/events/73219-c-pares-recent-gains-ahead-of-bank-of-canada-rate-decision.md) | +0.4% | +1.4% |
| WTI | 2026-07-28 | [Canadian dollar rebounds from two-week low ahead of Fed decision \| Reuters](https://feedsoft.ai/events/18590-canadian-dollar-rebounds-from-two-week-low-ahead-of-fed-decision-reuters.md) | +2.0% | +5.9% |

## Sources

- thestar.com: https://www.thestar.com/business/a-million-tons-of-frozen-canola-adds-to-farming-woes-in-canada/article_ec69132f-22e1-5948-bf35-fd9fec46605f.html

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