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Weekly canola outlook from Mercantile Consulting notes soybeans were little changed, meal gave back early gains, and soybean oil rallied on rumours the US would restrict Chinese used cooking oil imports. The WASDE was seen as slightly bearish for oilseeds, and YTD canola disappearance is down 9% year on year while March stocks are up 17.5%.
Higher canola stocks and weaker disappearance point to softer canola values, while possible US curbs on Chinese UCO could support soybean oil and meal-linked prices.
saskcanola.comWritten By SaskOilseedsMay 14, 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.
