Refined rapeseed oil prices in the US eased in February as resilient downstream demand met logistical frictions that limited flows to consumption hubs. Early in the month, export offers from Canada and Europe remained firm on a stronger ICE canola curve, while biodiesel and foodservice demand supported replacement values. Mid-month, railcar availability tightened and Jones Act tanker slots were constrained, with EU maintenance reducing export capacity. By month-end, Gulf Coast inventories stayed within normal ranges, reducing shortage risk even as sellers adjusted offers to reflect shifting freight and origin-cost dynamics. Demand was mixed across end-use sectors, keeping values under pressure but leaving pockets of strength in biodiesel and renewable diesel procurement and in high-oleic formulations for labels. Imports continued to dominate domestic use, underscoring seaborne supply’s importance. Outlook remains constructive: analysts anticipate a spring rebound with gains into coming months before a summer moderation, contingent on freight, insurance, and origin costs. Buyers should monitor logistics and bunker costs as drivers.
