Canada’s biofuel industry says Ottawa’s proposed Clean Fuel Regulations changes would leave canola demand about where it is, according to the Grain Report.
Russian wheat export prices fell again as shipments recovered. The first U.S. winter wheat rating of the season was 44% good to excellent. Canola held near C$788 per tonne on Nov 2 while WTI crude fell 7.4% to US$96 a barrel, and Mexico bought 1.73 million tonnes of U.S. corn.
PGI’s takeaway: biofuel policy looks demand-neutral for canola for now; crude’s drop and Russian wheat prices set cross-market context. Details and COT positioning are in the Grain Report.
Sources: Klarenbach Grain Report — https://www.grainreport.klarenbach.ca/p/canola-biofuel-rules-russian-wheat-and-u-s-harvest-nov-3-2026. Figures above are as reported in that edition.
Trent Klarenbach, BSA AgEc, PAg
Founder and Lead Analyst, Klarenbach Research