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ICE November canola closed at $646.50 after a $25.20 daily drop, with analysts expecting a possible move to the $620-640 range if soy and bean oil keep falling. Minneapolis September wheat fell 15.25 cents on the day amid US weather that is hot and dry in the west but better in the east.
Weakness in soybeans and oils is dragging canola lower, and this points to softer canola meal values for feed buyers while wheat outlook remains firmer.
saskagtoday.comRyan YoungJul 27, 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.
