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ICE November canola rose more than $27 per tonne to $891 early on October 4 before a midday collapse left it settling near unchanged at $863.70. Canola had gained $35 per tonne over seven of the prior eight sessions, and prices had not exceeded $900 since late June.
Reversal after a sharp rally suggests resistance near $860-880 may cap near-term canola gains, with a weaker US dollar having supported the earlier rise.
farmtario.comAdam PeleshatyOct 5, 2022Not enough comparable past events yet for a historical read.
Not 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.
