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USDA's December oilseeds outlook raised global canola and rapeseed production by 850,000 tonnes to 68.35 million, led by Australia, the EU, India and Russia. Canada's crop was cut to 12.6 million tonnes, and its 2021-22 exports were forecast at 5.3 million tonnes.
Large world sunflower seed crops are expected to offset Canada's shortfall.
Higher global canola output and large sunflower supplies partly offset Canada's shortfall, limiting upside for canola meal. Sunflower meal faces added supply pressure from the larger crop.
agcanada.comAGCanadaDec 14, 2021Not 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.
