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Canada has shipped 2.4 million tonnes of canola so far in the 2021-22 marketing year, with another million tonnes sold and in the handling system. USDA data shows exports down almost 50% over the first three months, with steep drops to the EU, UAE, China and Japan.
Importers are turning to Australia, which is forecast to ship a record 4.6 million tonnes.
A short Canadian crop has cut export supply, pushing buyers toward Australian canola and tightening global oilseed meal and oil supplies. This supports canola meal and vegetable oil prices.
ukragroconsult.comDec 17, 2021Not enough comparable past events yet for a historical read.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
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.
