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The ICE canola market tested the lower end of its trading range in late January, with the nearby March contract dipping to $791 per tonne before recovering above $800. Argentina received rain easing drought concerns, while Brazil's soybean crop is expected to be record-large.
Concerns about South American crops and speculative net-short positioning shape canola price direction, and a record Brazilian soybean crop points to ample meal supply.
manitobacooperator.caPhil Franz-WarkentinFeb 2, 2023Not 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.
