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An AWB analyst says canola prices are at historically high levels, with European November 2022 futures at 615 euros per tonne, up 50% year on year. The analyst warns prices could fall if 2022 yields recover to average, though Black Sea unrest and inflation add premiums.
Elevated canola values reflect drought-driven tightness in 2021 and incentive to expand oilseed plantings, which could build stocks and pressure prices later. Buyers face high current costs but a possible downside if supply recovers.
theland.com.auSamuel Reichstein, AwbFeb 1, 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.
