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Large shipments of Canadian canola reached Chinese processing plants in November, and Chinese rapeseed stocks rose to 421,000 tonnes by November 17. Imported rapeseed oil prices fell 2.25% in October, with the domestic market oversupplied.
Forecasts show continued active rapeseed oil imports in November and December.
Rising Chinese canola and oil stocks weigh on import demand and pressure canola oil prices further, with limited support from Brazilian soybean production forecasts.
graintrade.com.uaNov 30, 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.
