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Paris rapeseed fell 9.4% in March to €482.75/t, its lowest since September 2022, and Winnipeg canola dropped 8.3%. EU rapeseed imports from July to February rose 45% year on year, with Australia and Ukraine supplying most of the volume after record Australian crops.
Heavy Australian and Ukrainian supply and lower vegetable oil demand weigh on EU and Canadian canola prices, which lowers the cost of canola meal for feed formulators.
ukragroconsult.comMar 15, 2023Not enough comparable past events yet for a historical read.
After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% over 20.
After 12 past neutral trade events, Crude Oil (WTI) moved a median -2.2% over 5 sessions (33% higher; middle half -3.6% to +0.9%), and +1.2% 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.
