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Canadian canola exporters are looking to the European biodiesel sector after China's trade dispute with Canada hurt sales. Europe's rapeseed harvest is expected to fall to a 13-year low, and USDA forecasts European import demand could reach a record 5 million tons.
The EU renewable fuel target of 10 percent by 2020 supports rapeseed-based biodiesel demand.
A record European import pull could absorb Canadian canola that would otherwise have gone to China, supporting canola meal and seed prices. Lower EU rapeseed output tightens the global oilseed balance.
biocap.caDaniel BartonAug 26, 2019Not 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.
