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Rabobank's outlook projects global canola production for 2023/24 to fall slightly short of the record 2022/23 crop, as Australian losses are offset by larger EU and Canadian output. Canada may harvest over 20 million tonnes, up 7%, though dry conditions in western areas could make the forecast optimistic.
Ample inventories and a near-record global crop keep supply comfortable, limiting upside in canola prices despite Australian weather losses.
sfs.org.auJun 25, 2023Not 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.
