• U.S. pricing falls back below a dollar: Nominal RBD canola oil pricing in the Midwest as of mid-July was down about 15 percent from the month-ago level and down about 6 percent year over year.
  • U.S. refined canola oil disappearance in May was lowest since December 2015: With the limited and expensive supply of refined canola oil this year, it’s no surprise that volumes removed from stocks for processing are down significantly.
  • Canada’s May oil production lowest since February 2015: Canadian crush and oil production in May were down 16 percent from April. Canadian farmers are reporting fewer canola acres for 2022 vs. 2021, with planted area down almost 5 percent YOY.
  • Canadian canola oil pricing: The average May crude canola oil export value was CAN$1,635 per MT, or around US$0.577 per pound, a nice 14-cent drop from April. Refined oil pricing had yet to weaken, though, with export value in May at around CAN$2,656 per MT, or US$0.938 per pound, up 6 cents from the April average and up 40 percent YOY.

Read more about recent market factors in Soybean & Canola Oils Monthly Update located on IQ.

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Source: 123rf.com
Posted by: Information Services
Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.