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Australian canola values rose by about A$75 per tonne on the ICE benchmark as global oil tension and a rally in Matif lifted prices off a contract low. Local east coast prices remain in the low A$700s per tonne, roughly $65 per tonne below Matif, because the ICE contract had dipped on China's anti-dumping probe into Canadian canola.
Global canola strength with a lagging Australian discount signals firmer export parity for Australian canola, supporting meal values in feed markets.
farmonline.com.auGregor HeardOct 9, 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.
