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ICE canola futures surged on Friday after a Canadian government report put the harvest below expectations. Buyers also bid canola to narrow its large discount to soyoil, which had fallen sharply after disappointing US biofuel targets.
A smaller Canadian crop and spread-driven buying lift canola and canola meal values, tightening supplies for meal buyers.
brecorder.comReutersDec 3, 2022Not 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.
