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Canola prices in Australia and the EU have risen about 20% since March to two-year and 21-month highs, driven by tight supply from smaller harvests. China and the EU have stepped up imports, with China's shipments reaching record levels ahead of possible tariffs on Canadian canola.
Tight canola supply and a rally in vegetable oils raise the cost of canola meal and oil for feed, and buyers are not switching to cheaper soybeans, which supports meal prices until northern hemisphere crops arrive in mid-2025.
agcanada.comAGCanadaNov 26, 2024Not 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.
