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A DTN analyst argues that Canadian canola supply and demand assumptions lean bullish, with production likely to fall below Statistics Canada's 18.98 million tonne estimate due to drought and disease. Exports reached 2.589 million tonnes in the first 10 weeks of the crop year, driven by Chinese buying and record crush.
Likely lower production combined with strong export and crush demand points to firmer canola prices and tighter meal supplies for feed buyers.
dtnpf.comMitch MillerOct 25, 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.
