July 12th, the weather in Canada’s production areas will not be optimistic in the future, especially in Saskatchewan, the province with the largest production. Lower Alberta temperatures and rainfall are set to improve.
Canadian rapeseed was gradually harvested at the end of August, and it is currently in a critical growth period. There are still variables in the final yield. In particular, the good and good rate in Alberta is significantly lower than that in 2022 and 2021, and the good and good rate in Saskatchewan is not the same as that in 2022. With a large gap, if the weather does not improve in the end, the yield of 2.12 tons per hectare in 2023 is doubtful, and Canadian officials may adjust this at the end of July.
In addition, since the United States allows Canadian rapeseed oil to be used as a raw material for renewable diesel in 2022, both monthly rapeseed oil imports and monthly use of raw materials for raw diesel will remain high, and Canadian rapeseed production capacity is also gradually increasing. Vegetable oil premium, refer to US soybean oil.
