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Canadian trade official Doug Forsyth told a parliamentary committee that China reinstated two suspended Canadian canola seed exporters on May 18 and that all Canadian canola producers are now eligible to export to China. He also said Canada has paused its WTO challenge while market results are monitored, and noted China suspended 10 Canadian meat establishments in 2020-2021 over COVID cases, with some reinstated over the summer.
Restored Chinese access widens the buyer pool for Canadian canola and pork, supporting export demand and Canadian canola prices. Continued meat plant suspensions limit pork and beef export capacity, which weighs on Canadian livestock prices.
openparliament.caOct 4, 2022Not enough comparable past events yet for a historical read.
After 28 past neutral trade events, Lean Hogs moved a median -0.4% over 5 sessions (46% higher; middle half -2.2% to +0.7%), and -0.3% over 20.
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.
