# Canola outlook bright as markets call for Australian seed, oil - Grain Central

> Australian farmers are forward selling new-crop canola as domestic prices near $600 a tonne for non-GM seed. Demand for canola oil is strong, and dry weather in Europe is tightening rapeseed stocks. Biodiesel demand is falling with COVID-driven diesel declines.

- Date: 2020-04-27 · published 2020-04-27T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/53739-canola-outlook-bright-as-markets-call-for-australian-seed-oil-grain-central
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Tight European stocks and a weaker Australian dollar support canola prices, while falling biodiesel demand is a downside risk.

## Read by commodity

- SBO: neutral
- AUDUSD: bearish ▼
- CANMEAL: bullish ▲

## Sources

- graincentral.com: https://www.graincentral.com/markets/canola-outlook-bright-as-markets-call-for-australian-seed-oil/

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