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ICE canola futures rose during the week ended February 2, lagging the CBOT soy complex as spreads readjusted. March canola closed at C$1,022.50 per tonne, while March soybeans set new contract highs every day that week amid South American production concerns and a palm oil rally.
Soybeans are gaining strength on South American supply worries and palm oil strength, pulling canola along and supporting oilseed meal prices. Canola is becoming more responsive to soy moves as its premium narrows.
grainews.caPhil Franz-Warkentin, GFM Network NewsFeb 3, 2022Not enough comparable past events yet for a historical read.
Not 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.
