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Analyst Wayne Palmer of Exceed Grain says ICE canola has been trading in its own world for about a month, diverging from the Chicago soy complex. Funds liquidated part of their long canola position and farmers are holding back old-crop supplies hoping for cash prices near $30 per bushel.
Thin farmer selling and fund liquidation create volatility and a possible July/November spread squeeze, which affects canola meal and oil supply availability and prices for feed buyers.
farmtario.comGlen HallickMar 31, 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.
