Canola prices rose 2.5% amid settlement of US tariffs and hopes for tariff removal by China

free trade agreement (known as USMCA in the US). The remaining goods will be subject to a 35% tariff. “As a result of this US decision, the effective tariff rate on Canadian goods will be 5.6% compared to the average rate of 16% for the rest of the world. This is the lowest rate among all US trading partners. Canada now has the best trading conditions with the US. They are not what they were before, but they are still better than any other country,” Carney said. To maintain these conditions, Canada agreed to make reciprocal concessions to the United States. The settlement of tariffs with the US will provide the market with stable supplies of canola and canola oil in the US, which is why November canola futures have increased by 2.5% over the last two sessions to 666 CAD/t or $481.5/t (-5.1% per month). But quotes continue to rise today (and are currently trading at 673 CAD/t) amid a statement by Scott Moe, Premier of the Canadian province of Saskatchewan, the country’s largest ...