With the drop in soybean prices, canola could see some short-term benefit.
That from Canola Council of Canada President Jim Everson, who notes purchasers are looking for different alternatives than paying a large tariff on soybeans.
However, he says volatile tariffs and politically motivated tariffs are not a good thing for the growth of the industry.
"Over the long term, we see the environment that's good for our industry is one where you have predictable tariffs and you have as much as possible a removal of tariffs internationally and a commitment from countries to following trade rules."
China has placed a 25 per cent tariff on U.S. soybeans.
With 22 million acres planted, canola is western Canada's largest and most valuable crop. This amount is about 10 times the size of soybeans.
Source : Steinbachonline