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ICE canola futures hit fresh contract highs in early April before profit-taking set in. Analysts see new-crop canola as overvalued relative to oil and meal values and expect a correction of about $100 per tonne.
Expected futures correction would lower canola meal and oil prices, though improved Canadian crop prospects and a large US soybean crop add downside pressure.
agcanada.comAGCanadaApr 6, 2022
grainews.caPhil Franz-Warkentin, GFM Network NewsApr 6, 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.
