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Canola futures rose above CAD 650 per tonne, approaching the five-month high of CAD 669 from February 20. Buyers and producers are shifting to alternative export markets, especially the EU where rapeseed output has fallen.
USDA forecasts a 7% drop in US canola acreage to 2.6 million acres.
Lower EU rapeseed output and reduced US canola acreage tighten global supply, supporting canola meal prices.
tradingview.comApr 11, 2025Not 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.
Canola futures nearing five-month highs on Apr 11 with buyers shifting to alternative export markets (EU) supports the oilseed complex that canola meal tracks.
