The canola market continues to follow the soybean oil market higher. CHS Inc. Director of Feed Ingredients Alex Busch doesn’t think the smaller than expected Canadian production will have much of an impact on canola pricing. “I don’t know if it will be enough to drive prices lower, but overall, the demand is there for canola and canola products. I think the market will be able to absorb it. From a demand perspective, it will be interesting to see how the industry rebounds through COVID. If a facility can switch between different oils, they should be looking to substitute canola oil.” Busch doesn’t think canola prices will be strong enough to buy many additional acres next spring. “It will be tough, because the soy complex is rallying, too.” Busch was a presenter at the Minnesota Canola Council’s virtual Canola Symposium on Thursday.
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.