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Canada is searching for new export markets for canola meal after China's tariff blocked sales there this year. The US, China and domestic markets historically took nearly all of Canada's roughly 6.7 million tonnes of meal.
Statistics Canada's delayed trade data makes it hard to track how sales are going.
Losing China as a meal buyer leaves excess meal that must be sold to fewer or smaller markets, which is bearish for canola meal prices and Canadian crush margins.
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.