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Analysts say the price relationship between canola and crude oil is strengthening, and farmers are advised to watch crude closely. The article covers how energy-linked vegetable oil demand is feeding into canola values.
Stronger linkage to crude means canola and canola meal prices will track energy moves more closely, adding volatility for feed buyers. Higher crude supports vegetable oil and oilseed prices.
producer.comMichael RaineMay 30, 2022Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.
