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Canola gained strength alongside soybeans and palm oil on Brazil flooding, dry conditions in eastern Europe, and USDA estimates. USDA sees US canola production at 4.1 billion pounds and rising biofuel use of canola oil, while AAFC cut Canadian canola export estimates.
Stronger biofuel demand for vegetable oils supports canola oil values, while lower Canadian export forecasts add to ending stocks and cap upside for meal.
processingjournal.comMilling JournalMay 25, 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.
