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Farmers are expected to expand specialty crop acreage in 2022, including canola, flax and sunflowers, driven by high prices and low input costs. USDA's March intentions showed North Dakota canola acreage at a record 1.76 million acres.
Crush bids in the region reached record levels in late April.
Record canola acreage points to larger future supplies that could cap prices later, though current tight stocks keep near-term support firm. Canola meal supply for feed buyers would rise if the crop expands as expected.
agweek.comAnn BaileyMay 2, 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.
