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Chinese importers are scaling back purchases of Canadian canola, with shipments from December expected to fall sharply as buyers avoid new deals. Buyers fear retaliatory anti-dumping duties tied to China's probe into Canadian canola.
ICE canola futures have dropped more than 10% in the past month.
Lower Chinese demand for Canadian canola weakens export demand for canola products and adds pressure to futures already under pressure. Canola meal supply may be redirected, which pressures prices.
reuters.comNaveen ThukralDec 5, 2024Not 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.
