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Commonwealth Bank of Australia forecasts 8.27 million acres of canola in Australia, down 4% from last year. Dry conditions in Western Australia could cut area further, and the bank expects 2024-25 stocks-to-use in key markets could be the lowest in eight years.
Lower Australian area and tighter global stocks would support canola and canola meal prices, since Australia is a major competitor in export markets.
producer.comSean PrattApr 17, 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.
