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The CBOT soy complex fell 4.5-6% in the week, led by soybeans, after slow-to-start export sales and a NOPA crush below trade estimates. Canola disappearance for the 2022/23 crop year is running 26% above last year, and the outlook notes that crush margins have narrowed.
A weaker soy complex and reduced canola crush margins point to softer meal and oil prices, while strong canola usage is tightening old-crop supplies.
saskcanola.comWritten By SaskOilseedsMay 23, 2023Not enough comparable past events yet for a historical read.
Not 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.
