Cottonseed is leaving feedlot rations in northern Australia, where harvest is nearly finished, because it has become expensive relative to canola meal and contracts are hard to execute. Buyers are switching to full canola meal, while delivered cottonseed has climbed to $580-$600/t.
Southern barley is being accumulated ahead of new crop.
Lower feedlot demand for cottonseed meal weakens its price support, while canola meal gains share as the preferred feed protein. Price effects are modest for now.
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.