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Canola futures held above C$700 per tonne but met resistance above C$720 during the week. The EPA finalized 2023-25 renewable fuel targets, which were higher than the December proposal but short of industry hopes.
Uncertainty over whether US biodiesel demand will expand as expected weighs on soyoil and canola, while the market had been trending higher.
manitobacooperator.caPhil Franz-WarkentinJun 29, 2023After 351 past bearish policy events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
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.
