Canola Rebounds as Momentum Gains Traction

Canola prices appear to have gained some traction after declining for most of the summer.  The catalyst for the decline in vegetable oils is an oversupply of beans and yields.  Recent crop reports by the USDA has scaled back the supply of beans, which has allowed vegetable oils to hold support.

The USDA report estimated total soybean production in 2015 at 3.89 billion bushels, which is slightly lower than…