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ICE canola futures closed higher on June 26, 2024, with double-digit gains in most contracts, as traders cited oversold conditions, Prairie weather and crop conditions. Chicago soyoil, European rapeseed and Malaysian palm oil also rose, while Chicago soybeans and soymeal slipped.
Statistics Canada reported a May canola crush of 920,432 tonnes, up from 769,942 a year earlier.
Stronger vegetable oil and rapeseed prices lift the oilseed complex, while a larger crush supports meal supply. Soymeal weakness keeps protein feed prices under pressure for buyers.
marketsfarm.comGlen HallickJun 26, 2024Not enough comparable past events yet for a historical read.
Not 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.
