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MarketsFarm analyst Mike Jubinville advised Canadian growers to wait for canola to rise about $1 per bushel before making further incremental sales. He forecast 2023-24 carryout of 1.4 to 1.5 million tonnes and said China's purchases have been sluggish.
He also pegged the price floor near $700 per tonne.
A tight forecast balance and an oversold market point to modest upside for canola. Slow Chinese buying and cheap European rapeseed cap that upside.
producer.comSean PrattOct 27, 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.
