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Rapeseed and canola prices fell 6-9% over three days as improved South American soybean prospects, expected lower US biofuel demand and speculative fund liquidation drove the decline. Winnipeg January canola dropped about 9% to CAD 595 per tonne, and Paris February rapeseed fell 4%.
Falling rapeseed and canola prices reduce the cost of canola meal and oil for feed, and the bearish outlook for biofuel demand may keep pressure on meal and oil values.
ukragroconsult.comNov 22, 2024Not enough comparable past events yet for a historical read.
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.
Speculative fund liquidation and expected lower US biofuel demand drove oilseed and vegetable oil declines on Nov 22, which is consistent with the soyoil slide.
