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ICE canola futures fell for a fifth straight day, with the January contract settling at C$835.10 per tonne after breaking below its 100-day and 50-day moving averages. Traders cited concerns about reduced Chinese demand.
Chicago soybean and grain futures also fell amid worries about a possible US rail strike.
Lower canola futures reflect weaker expected Chinese demand and technical selling, which pressures canola meal values. A possible US rail strike could slow grain movement and add logistics risk to soybean and meal markets.
brecorder.comReutersNov 23, 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.
