Intercontinental Exchange canola futures extended gains on March 26, with May up to C$729.40 per tonne, supported by rising crude and gains in Chicago soy complex, MATIF rapeseed and Malaysian palm oil. The Canadian dollar weakened to 72.18 US cents.
Analysts warned that high prices could spur farmer selling and deter foreign buyers, while ending stocks remain large.
Higher crude and vegetable oil prices are pulling canola up, but ample supplies and weaker export appeal limit the rally. Feed buyers face firm but volatile canola meal and oilseed costs.
Not enough comparable past events yet for a historical read.
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.