Market Morsel: Canola knocked down a peg
Canola has been an attractive crop to plant over the past two years, leading to record acreages in Australia. Is that coming to an end?
We saw some very strong canola prices in recent years. Our prices for canola are largely driven by the futures price overseas (ICE and Matif), along with the wider oil and oilseed markets.
The futures market for canola has fallen since the start of the year, with French values down A$132 and Canada down A$100 (on average) for new crop.
It’s important for farmers making their planting decisions to be aware that the heady days of recent years may not be repeated.