Canola prices are reported to be in a relatively tight up and down trading range that hinges on soybean oil price movements as well as European rapeseed markets. The canola market overall has gained $20 per metric tons (MT) in the last half of July, hovering around the $700 per MT level. Soybean oil’s share of product value is trading at multi-year highs, which bodes well for the canola market since canola tracks soybean oil very closely, given that canola is a high oil-producing crop.
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Canola market in a tight trading range
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