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A market analyst said a larger-than-expected canola and sunflower crop in the US and Canada has pressured the oilseed complex. Global use and import data were not bullish, and demand for some crush byproducts has lagged.
The analyst said biofuel demand and added crush capacity will determine price direction longer term.
Heavy oilseed supply and weak byproduct demand point to lower meal prices for feed buyers. Biofuel-driven crush demand is the main factor that could reverse this.
realagriculture.comLyndsey SmithMar 4, 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.
