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Analyst Chuck Penner advised Canadian growers to hold canola, noting that production was the lowest since 2015-16 and supplies are pegged at 19.1 million tonnes against a 23.1 million tonne average. Nearby futures trade between C$800 and C$900 per tonne, and canola typically peaks from April to June.
Tight supplies and the seasonal price pattern support canola values in the coming months, so waiting to sell could capture higher prices.
producer.comSean PrattJan 16, 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.
