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ICE canola futures rose most of the week ended Aug. 28 before falling after Statistics Canada projected a 2024-25 canola crop of 19.502 million tonnes.
That was above the 19.192 million tonnes for 2023-24. Analysts called the estimate an early guess while harvest results are still coming in.
A crop estimate near the upper end of expectations adds supply and eases the price rally driven by strong demand and crush margins. Canola meal prices could remain under pressure if yields prove higher.
farmtario.comAdam PeleshatyAug 28, 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.
