*Amanda Luhavalja is out of the office, returning Monday Aug, 28. Please contact Bob Lane at [email protected] with any questions, comments or trading in her absence.*

Traders and end users are reporting a softening in the canola oil basis this week, while cottonseed oil and corn oil prices remain firm. Processors speaking with The Jacobsen believe basis weakening will not last and expect canola prices to remain tightly correlated with the soybean oil market.

As reported yesterday, canola oil use in the biofuel sector has been ramping higher following the additional pathway approval for renewable diesel to generate RINs from canola oil.

…