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Canola futures fell from a high near $838 per tonne early in 2023 to a low of $621 on May 31 amid fund liquidation and a record Australian crop. Prices rebounded in June after Agriculture Canada's crop report, and demand is described as firm despite recent bid declines.
Large Australian and Canadian supplies have capped canola values, and firm crush demand is the main support for Canadian canola meal prices heading into 2024.
producer.comSean PrattDec 14, 2023Not 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.
