Against the backdrop of the purchase of large batches of canola from Australia, prices in Canada are falling, while in Paris they are rising.

The Chinese state-owned trading company COFCO has acquired around 9 batches of Australian canola with a volume of 540-550 thousand tons, which is equivalent to 8% of the total volume of canola imported into China last year. This information increases pressure on canola quotations, but on the other hand, it supports rapeseed quotations in Paris, as the potential for Australian supplies to the EU decreases. November futures for canola in Winnipeg over the week decreased by 3.7% to a 6-month low of 617 CAD/t or 445 $/t (-7% for the month and -5% for the year). Favorable harvesting conditions allow for the expected crop yield, which increases the supply on the market, but there have been no active sales to the EU so far. Rapeseed quotations on the Paris exchange over the week increased by 0.4% to 472 €/t or 557 $/t, but remain under pressure from uncertainty regarding the volumes and sources of rapeseed imports in the new season. Amid falling prices, local producers are holding back ...