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Weekly outlook reports CBOT soybeans closed 3 cents higher on the week and China reportedly bought US soybeans for 2023/24 delivery. Argentina's crop rating improved slightly after rains, but the official crop estimate was left at 41 million tonnes, versus USDA's 45.5 million tonnes.
Canola disappearance was 16 percent above last year.
Chinese purchases and Argentina's still-weak crop outlook support soybean prices, while canola demand from crushers and exporters is also firm.
saskcanola.comWritten By SaskOilseedsJan 30, 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.
