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South Australian canola prices closed at A$631/t, with the harvest well advanced after dry spring conditions. ABARES forecasts national canola output at 5.15 million tonnes, about 3.15 million tonnes below last year's record, with WA and SA leading the decline on lower yields.
A sharply smaller Australian canola crop tightens export supply for the EU, a key buyer, which supports canola prices, while cheap Ukrainian rapeseed imports into the EU cap gains.
stockjournal.com.auEd Scamps, Cloudbreak Grain MarketingDec 1, 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.
