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Agriculture Canada raised its 2024-25 canola ending stock estimate to 2.5 million tonnes from 1.65 million, mainly because it cut 2023-24 exports by one million tonnes to six million. Analysts say the export pace has been poor and the production estimate was left unchanged despite early rains.
Larger canola carryout signals ample supply and weaker export demand, which is bearish for canola complex prices.
producer.comSean PrattMay 29, 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.
