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ABARES has forecast Australia's winter crop at 54.8 million tonnes, 32% above the 10-year average. Canola plantings rose 25% year on year, and canola prices have reached record levels of about A$1,000 per tonne because of drought-reduced Canadian output.
Large Australian supply is offset by tight global canola supply from Canada, so canola prices stay firm and feed-meal costs remain elevated.
merrickscapital.comOlivia AberleOct 21, 2021Not 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.
