Canadian canola production forecast for MY 2026/27 remains unchanged – USDA
According to the USDA’s Supply and Demand report, Canada’s canola production forecast for MY 2026/27 remains unchanged at 22 million tonnes, the same as last year. Exports are forecast at 8.2 million tonnes (up 7.9% year-over-year), and domestic consumption is estimated at 13.85 million tonnes (up 6.5%). Projected ending stocks are 3.126 million tonnes (up 3.3%). The USDA slightly raised its global canola production forecast for 2026/27 to a record 96.91 million tonnes, up 1.4% year-over-year.
The USDA report notes a slight increase in global canola production to a record 96.91 million tonnes and a 3.3% year-over-year increase in Canadian ending stocks. Overall rapeseed supply appears relatively ample, reducing price support for rapeseed oil; combined with recent weakness in rapeseed oil futures, this has an overall negative impact on prices.
Since rapeseed is the primary raw material for rapeseed meal production, the abundant global supply indicated in the report weakens price support for rapeseed meal, exerting an overall negative impact on rapeseed meal prices.
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