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Canola prices on ICE have fallen sharply from about C$1,200 per tonne months earlier, with the November contract dropping below C$800 before rebounding to C$824.40 by July 27. An analyst says the rally reflects higher crude oil and vegetable oil prices, and notes support levels for canola, Minneapolis wheat and Chicago corn.
Canola and vegetable oil prices are tracking crude oil and the US dollar, so feed buyers should watch these links when pricing canola meal and oilseed-based feed. The rebound is modest against a much lower trend.
grainews.caGFM Network NewsJul 28, 2022Not enough comparable past events yet for a historical read.
Not 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.
