Canola prices continue to be pressured in the month of February as supplies in the pipeline appear to be ample for the time being. Crush margins continue to be very profitable for crushers as they are running at near full capacity in North America. Canola exports, while trending at a pace that should easily meet analyst estimates for the crop year, are facing stiffer competition from increased Australian supplies. These supplies have been filling the needs of smaller, yet important markets for North American canola. It is noted that China seems to be an active buyer when the ICE canola contract reaches the $800 per metric ton (MT) level.
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Canola market steady in mid-February
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