Canadian canola prices remain strong

After hitting a nearly two-year high last week, Canadian canola prices remained strong based on reports of lower yields in parts of Alberta and increased palm oil prices in Malaysia. The strong prices are a bit of a surprise considering Canada is expecting a large crop, however, there is speculation that Canadian canola may be reaching Chinese markets through re-exports of canola oil from other countries including the UAE. Canada and China have been locked in a political dispute for several months with the Asian nation limited imports from certain producers.