US spot canola oil prices fell on Wednesday January 22 as the benchmark soybean oil futures contract slumped almost 3% on the day.
Fastmarkets assessed canola oil, refined, bleached and deodorized, fob Los Angeles at $0.5292 per lb on Wednesday, down from $0.5427 per lb a day earlier. March soybean oil futures fell $0.0135 per lb at midweek to settle at $0.4442 per lb, down from $0.4577 per lb previously.
Canola oil physical prices have declined by about 3% on the week amid expectations the US will soon place new tariffs on all goods imported from Canada. US President Donald Trump indicated on Tuesday January 21 that he plans to move ahead with a previously announced 25% tariff on all products from Mexico and Canada.
Canada exports around 70% of its canola oil to the US. The new tariff is expected to go into effect by February 1.
…
02.28.2025
Chinese plant begins producing SAF, RD for export to Europe
China-based Jiaao Enprotech began production at its sustainable aviation fuel (SAF) and renewable diesel plant in Lianyungang in Jiangsu province in December, the company told Fastmarkets on Wednesday February...
02.28.2025
CWG bucks the trend in an otherwise sluggish week for fats and oils
After a sluggish week of trading, activity in the US animal fats and oils markets increased at the end of the month, with prices averaging mostly steady to slightly...
02.28.2025
Bloodmeal prices surge through February
Trading in the animal protein market was quiet to close out February with no transactions reported on Friday February 28.
For the week, the market was mostly higher...