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Northwest Minnesota growers are exploring canola on fields where soybean yields have fallen to 25-30 bushels because of iron deficiency chlorosis or nematodes. Advisors say canola is paying more than soybeans on those acres when contract prices are good, and BASF is hosting canola meetings.
If growers shift marginal acres from soybeans to canola, soybean supply could tighten slightly while canola supply grows. The effect is small and local.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.