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Australia has harvested 7.3 million tonnes of canola, raising the prospect that its exports could match Canada's for the first time. Analysts doubt Canada's forecast of 9.3 million tonnes in exports, with some estimates at 6-7.5 million tonnes.
Competition is expected to pull 2-3 million tonnes of Asian and European demand away from Canada.
Increased Australian supply in Asia and Europe pressures Canadian canola export prices, which could weigh on canola meal values for importers.
graintrade.com.uaDec 20, 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.
