The canola market strengthened in early July as crop acreage reports showed a smaller crop in both the U.S. and Canada and weather forecasts for July deteriorated. The market also reacted to a more positive outlook on trade and tariff issues and the positive outlook for biofuels from both the EPA Renewable Volume announcement recently and the positive 45Z provisions in the Reconciliation Bill. There is growing evidence of stronger vegetable oil demand that has caused prices to move higher, according to industry market analysts.
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Canola prices strengthen as crop size in North America shrinks
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