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Ukrainian analysts citing OleoScope report that China imported about 5.1 million tonnes of canola in 2022/23, against a USDA January forecast of 2.5 million tonnes. The increase is attributed to Canada's production recovery, Australia's record 2022 crop and firm global vegetable oil prices.
Strong Chinese canola demand supported canola prices over the past year, but the USDA projects lower Chinese imports in 2023-24, which weighs on the outlook for canola and related meal.
ukragroconsult.comSep 25, 2023Not enough comparable past events yet for a historical read.
After 81 past neutral trade events, Soybean Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +1.8%), and +0.9% over 20.
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.
