With news that there may be more supplies of canola than thought earlier this fall, falling crude oil values, and continued record South America soybean production, the canola market has faced a considerable price breakdown recently, having reached recent highs on Nov. 22. This breakdown is happening even as the domestic crush is at record levels. The export market seems to be the weak link as China has not stepped forward yet this marketing year to purchase canola at the pace expected.
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Canadian canola production estimates increased
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