ICE canola futures closed at eight-month highs on March 12, with May at C$739.90 per tonne after recovering from early losses as crude oil turned higher. The Canadian dollar weakened nearly half a cent, and nearby crush margins topped C$300 per tonne.
Canada exported 113,500 tonnes of canola in the week to March 8, with year-to-date shipments about 27% behind last year.
Wide crush margins and a weaker loonie support canola, but slower exports point to softer foreign demand. Feed buyers face higher oilseed and meal values.
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.
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