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Statistics Canada's production estimates for 2024-25 came in above the average analyst view. Its canola forecast of 19.50 million tonnes was above a Reuters poll's 19.20 million.
The satellite data used is about five weeks old and shows crop health in the Prairies ranging from much lower to normal.
The government estimate is slightly bearish for canola supply, but the uncertain satellite data and possible yield losses from hot, dry weather limit its price impact. Buyers should watch harvest yield reports.
marketsfarm.comGlen HallickAug 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.
