G-3 Canada's manager of pooling says a surprise change in import regulations from China is the cause of recently weakened canola markets.
Dave Siminot says last week China lowered the amount of dockage it would allow on canola imports, which has thrown uncertainty and extra costs into the market.
Last week alone, Siminot says canola futures markets dropped 20 dollars per tonne.
He hopes this is an overreaction in the markets, but thinks canola values for old crop will likely be weaker for the last half of the year.
