Canola prices continued to move in a choppy range in the second half of January, rising on the USDA’s final crop production report on Jan. 10, only to fall the following week upon further release of 45Z details. Then the market rebounded after it appeared no tariffs would be immediately imposed on Jan. 20 and fell again with the news of potential tariffs on Feb. 1. After the up and down price movements, canola settled in at $639 CAD per metric ton (MT) on Jan. 28, up from $630 per MT on Jan. 15.
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A tightening canola supply situation
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