Canola Price

[wheatking16]

Reaction up? Or reaction down?

I will reassess at that level but anticipate the price to slow down or reverse at the 850-860 range.

Constantly reassessing.

[Guest]

many thanks , from a dazed and confused marketer!
every little bit helps

[fjlip]

Follow through buying OR OR profit taking selling! same old same old.

Can a dead cat keep bouncing?

[Partners]

Stats can Friday.
If you believe them?

[AlbertaFarmer5]

Todays price action is supposedly about EPA and renewable fuels vs electric.

But I also saw this: Not sure about the love part though?

In the new #EPA proposal, #Canola is getting the love the #Soybeans are lacking...

Canola is now treated like a premium biofuel, on par with #SoyOil

The negative reaction in beans imo is likely a result of this new dynamic pricing in.

[TASFarms]

Todays price action is supposedly about EPA and renewable fuels vs electric.

But I also saw this: Not sure about the love part though?

In the new #EPA proposal, #Canola is getting the love the #Soybeans are lacking...

Canola is now treated like a premium biofuel, on par with #SoyOil

The negative reaction in beans imo is likely a result of this new dynamic pricing in.

Argentine sold 31 million bushel of soybeans. They got favourable currency conversion

[Partners]

Another day of crash and burn just when it looked like hope.
Slowly ratcheting downward.

[TOM4CWB]

Black swan event… biodiesel reduction in fuel reducing demand… this morning…

Could be an over reaction considering all the jet fuel refinery projects for low carbon fuel biofuel coming on stream… however in the short term caused soybean oil to crater this morning.

Soybeans were up till this hit the news wires.

[TASFarms]

https://www.agweb.com/news/policy/politics/renewable-fuels-big-week-epas-rfs-proposal-and-year-round-e15-legislation?fbclid=IwAR0VC1T0fBhQIrujE2nCdxIgN2MbG Wx8-Vo1a1PgdlVO-ExevKoSXECz4eM&mibextid=Zxz2cZ

[AlbertaFarmer5]

Evidently todays news was actually good news for not only canola, but also canola oil from Canada:

Canola is another step closer to seeing major new demand from producers of advanced biofuels, as the U.S. Environmental Protection Agency has published its final rule approving the use of canola oil for renewable diesel, sustainable aviation fuel, and other advanced biofuels under the Renewable Fuel Standard (or RFS.)

“We thank the EPA for completing the final rule and are pleased to see that canola oil now has the pathway to help contribute to reducing GHG emissions from transportation fuels in the U.S.,” says Jim Everson, president of the Canola Council of Canada (CCC), in a statement issued December 1.

Compared to older biofuels, such as biodiesel, the chemistry of renewable diesel and sustainable aviation fuel is much closer to the fossil fuels they’re meant to replace, making them easier to use as a replacement in combustion engines. Demand for these advanced fuels is increasing as governments implement lower carbon fuel standards.

The CCC notes the EPA found canola-based fuels offer significantly lower lifecycle greenhouse gas emissions than fossil-based fuels — up to 90 per cent lower when compared with traditional diesel.

The council worked together with the Canadian Oilseed Processors Association (COPA) in supporting the U.S. Canola Association’s petition to the EPA, originally filed in 2020, to allow canola oil as a feedstock for making advanced biofuels.

The fact the U.S. has recognized canola oil, not just seed, as a feedstock is also significant for Canada’s canola industry, as it allows for processing to happen in Canada.

COPA has previously estimated 6.5 million tonnes of U.S. and Canadian canola could go toward North American biodiesel and renewable diesel production by 2030, compared to current demand of around 1.8 million tonnes.