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ICE canola futures closed sharply higher on August 28, with November up C$19.70 to C$823.70 per tonne. The gain followed strength in Chicago soyoil, European rapeseed and Malaysian palm oil, and Canadian harvest was only 1% complete.
Vegetable oil strength is pulling canola higher, and slow harvest progress keeps near-term Canadian supply limited, which supports oilseed meal and oil values.
Not enough comparable past events yet for a historical read.
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.