Canola prices were relatively strong the two weeks prior to Aug. 12, when China announced a 75.8 percent tariff on Canadian canola imports in retaliation for tariffs imposed by Canada on sectors of its economy last year. Canola futures immediately dropped the limit of CAD $45 per metric tons (MT) on the news but recovered to close down $30 per MT on the day.
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Canola market reacts to China tariff on Canadian canola
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