Loading…
Atten Babler's October 2021 update says Canadian canola ending stocks hit a four-year seasonal low and the 2021-22 crop is expected at a 13-year low because of severe drought. It also notes that Pacific Northwest canola meal prices correlate closely with CME soybean meal prices.
Low canola stocks and yields point to firm canola meal prices, and the strong soybean meal correlation means dairy rations may see higher protein costs across both meals.
attenbabler.comOct 27, 2021Not enough comparable past events yet for a historical read.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), 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.
