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ICE canola futures fell on April 13, with May canola down C$4.70 to C$769.30 per tonne. The decline followed weaker European rapeseed prices, sufficient Canadian supplies, and farmers selling more stored canola.
Louis Dreyfus said it will more than double its Canadian canola crush plant.
Heavier farm selling and weaker crush margins point to ample canola supply. The planned crush expansion adds to future demand for canola over time.
brecorder.comReutersApr 13, 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.
