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European new-crop rapeseed closed above EUR 500/t on MATIF, reaching the highest level since July 2023. Australian canola supplies are forecast to fall about 1.0 Mt to a four-year low due to dryness that reduced Western Australian sowings.
A smaller Australian and Ukrainian exportable surplus forces the EU to import more Canadian canola, supporting canola prices and the European premium.
rapool.comMay 27, 2024Not 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.
