Canola and soybean oil prices supported by Trump's threats to halt imports of used cooking oil from China

and restaurants, which is commonly used to produce biofuels. Earlier this year, the Trump Administration already cut subsidies for biofuel production from imported recycled oil from China and canola oil from Canada by 50%, incentivizing the use of only American-origin cooking oils in biofuel production. In 2024, China sold a record 1.27 million tons of used cooking oils to the United States worth $1.2 billion, but after Beijing abolished export tax breaks from December 1, 2024, in the first seven months of 2025, shipments from China to the United States amounted to about 387 thousand tons, which is 43% lower than the corresponding figure of the previous year. December soybean oil futures on the Chicago Board of Trade yesterday rose only 0.9% to $1,120/t (-1.4% for the week and -4.3% for the month), not receiving strong support from Trump’s statements and data on the growth of soybean processing in the US. According to the NOPA association, in September, the volume of soybean ...