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StoneX says November canola is struggling below resistance near $700 per tonne, with a close under $660 needed to change the trend. Western Canada rains have improved soil moisture, and weak Chinese demand continues to weigh on expectations.
Technical resistance and weak Chinese demand suggest limited upside, while seasonal patterns favour forward sales or hedges for new-crop canola.
stonex.comCraig TurnerMay 31, 2024stonex.comCraig TurnerMay 31, 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.
