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Statistics Canada's current canola estimate is 18.9 million tonnes, but lower yields may cut production by 0.5 to 1 million tonnes when final figures are released December 5. Canadian canola is being used at a record pace through exports and crush, which is tightening Prairie supplies.
Record crush and tighter supply raise the likelihood of higher canola meal prices and reduced meal availability for feed buyers, although the expected production cut may be partly anticipated by the market.
producer.comBruce BurnettNov 12, 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.
