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Cold, rainy weather in Canada delayed canola sowing, with Saskatchewan 56% planted versus 68% a year earlier. Winnipeg July and November canola futures rose and MATIF rapeseed reached its highest since March 2023, while the EU cut its rapeseed yield forecast to 3.21 t/ha.
Slow Canadian planting and a lower EU yield outlook support canola and rapeseed meal prices, while faster US soybean planting weighs on soy complex values.
ukragroconsult.comMay 30, 2024Not enough comparable past events yet for a historical read.
After 118 past bearish weather events, Soybean Meal moved a median -0.8% over 5 sessions (35% higher; middle half -3.2% to +0.4%), and -1.6% over 20.
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.
