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Canola fell sharply on Oct. 19, with November down $19.50/t to $692.20 and January down $13.50/t to $705.20, its largest one-day drop in over a month.
Analysts blamed fund manipulation or a follow-the-leader move as Chicago soyoil, European rapeseed and palm oil also weakened.
The selloff reflected vegetable oil weakness and speculative positioning, and analysts viewed it as an aberration, though very high crush margins should keep canola meal supply and demand firm.
manitobacooperator.caAdam PeleshatyOct 26, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
