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Richardson, Viterra, Cargill and others plan to add 7.8 million tonnes of Canadian canola crushing capacity, with about 4.6 million tonnes due in 2024. Canada is forecast to export 8.8 million tonnes in 2023-24, and some export decline is expected.
Much of the new domestic demand will absorb canola that would otherwise be exported, reducing export supply and supporting domestic canola and meal prices.
producer.comSean PrattJun 8, 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.
