Canola prices have continued to fluctuate in recent weeks, following the lead of soybean oil prices and also reacting to Canadian supply for the upcoming marketing year. Recent production estimates of 19.9 million metric tons (MMT) for Canada were seen as confirmation that the crop is getting bigger in North America. Private analysts also state that the general belief is that this number will get larger as harvest progresses. The USDA has dialed in 19.2 MMT of production for Canada and may adjust this number in subsequent reports.
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Canola prices fluctuate on final canola crop size, biofuel uncertainty
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