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Canola futures have fallen about 20% since July, and cash prices have followed lower. Rabobank analyst Stephen Nicholson said the outlook is better than current prices, citing new crush demand in western Canada and strong export demand.
He attributed the slide to the overshoot after a large Brazilian soybean crop earlier this year.
Canola prices are pressured by the post-record-crop correction, but new crush and renewable diesel demand could support a rebound later in the season.
producer.comEd WhiteNov 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.
