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Weekly canola outlook reports November soybeans rose 45-6 cents to 1353-2 and November ICE canola closed at 800.50/mt, up 5.07% on the week, reaching 809.40/mt on Monday. Year-to-date canola disappearance is up 61% from last year, and analysts note yield worries from heat and dryness.
Yield concerns in Canada and the US, plus a strong soybean complex, are supporting canola and soy prices, so buyers should be cautious about adding forward sales while crop estimates remain uncertain.
saskcanola.comWritten By SaskOilseedsAug 21, 2023Not 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.
