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China's most active rapeseed meal futures on the Zhengzhou exchange fell 4.6% on Monday to 2,308 yuan per tonne, their lowest in nearly seven weeks. The drop followed Ottawa's announcement that Canadian firms can request temporary tariff relief on Chinese goods, including EVs and steel.
Traders hope this eases the anti-dumping probe on Canadian rapeseed.
Easing hopes reduce the risk of Chinese duties on Canadian canola, which removes some bullish premium from meal. Large Chinese meal inventories add further downside pressure on canola meal prices.
agcanada.comAGCanadaOct 21, 2024
businesstimes.com.sgOct 21, 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.
