Glacier FarmMedia — ICE canola futures were sharply lower Tuesday morning as China announced a preliminary anti-dumping duty of 75.8 per cent on Canadian canola imports.
China accounted for roughly half of all of Canada’s canola exports in 2024/25, taking 4.6 million tonnes out of the total 9.1 million tonnes exported in the 11 months of data through June. The preliminary duties are set to go into place on Thursday, Aug. 14, and would effectively shut the door to any Canadian business.
China’s Ministry of Commerce launched an anti-dumping probe into Canadian canola last September, largely in response to Canada’s imposition of 100 per cent tariffs on Chinese electric vehicles. The investigation is set to formally end this September.
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Chicago soyoil and soybeans were also weaker Tuesday morning, with positioning ahead of monthly supply/demand data from the United States Department of Agriculture due out later in the day behind some of the activity.
About 62,600 canola contracts had traded as of 8:31 CDT.
Prices in Canadian dollars per metric tonne at 8:31 CDT:
Canola Nov 635.90 dn 44.90
Jan 649.40 dn 42.80
Mar 659.90 dn 40.60
May 669.10 dn 38.40
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
