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Agriculture and Agrifood Canada cut its canola ending stocks forecast for the current crop year from 500,000 to 450,000 metric tons and kept the next-season forecast at 700,000 tons. It forecast an average canola price of $900 per ton for the coming year, the second-highest on record.
A smaller ending stocks estimate and a high price forecast point to firm canola and canola meal prices, supporting feed costs for buyers.
agupdate.comBARRY COLEMAN, Northern Canola Growers AssociationMar 7, 2022Not 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.
