Loading…
Canadian canola futures on ICE fell sharply after China launched its anti-dumping probe on September 3, with prices going limit-down before the November contract stabilized above C$570 from C$620. US elevator prices fell in step, and industry sources say the market will reroute canola to other buyers.
Canada's canola industry is more diversified than in 2018, with new crushing capacity and strong North American biofuel demand.
Because canola seed, oil and meal are interchangeable across markets, a Chinese tariff tends to shift flows rather than eliminate them. Strong North American crush demand should limit the downside for canola meal prices.
producer.comEd WhiteSep 9, 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.
