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Canadian canola exports have been slow, and AAFC cut its 2023-24 export forecast to 6 million tonnes and its 2024-25 forecast to 6.9 million tonnes. USDA projects larger Canadian canola production in 2024-25 than AAFC, and European rapeseed prices have risen, which could open new export markets.
Lower export forecasts and a large expected crop point to ample canola supply, while the price recovery in European rapeseed offers some support to canola values.
manitobacooperator.caPhil Franz-WarkentinJun 4, 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.
