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Economist Chuck Penner expects canola and pulse prices to firm in 2024 after a disappointing first half of the marketing year, when prices were about 23 cents per pound. He points to renewable diesel demand in North America, with Canadian canola oil now mostly going to the US, and to a smaller 2023 Canadian crop.
Growing renewable diesel demand for vegetable oils supports soybean oil and canola values. The forecast is a view on future prices rather than a new supply or demand shock.
capitalpress.comMATTHEW WEAVERCapital PressJan 15, 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.
