The supply of canola in North America continues to get very tight, as canola seed exports remain strong. Total Canadian canola exports for the crop year are currently at 8.35 million metric tons (MMT) and market analysts predict the revised export figure of 8.5 MMT has already been reached as of June 1. This will require a further adjustment of exports and will likely reduce ending stocks from the currently estimated low levels. Canadian ending stocks levels are watched more closely since the ending stocks levels of canola in the U.S. are not a significant market mover.
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Old crop canola supplies continue to tighten
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