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Statistics Canada cut its satellite-based canola production estimate to 12.8 million tonnes, about 2 million tonnes below its August 30 figure and down 34% from last year. The crop is the smallest in 13 years and smaller than industry expected.
A much smaller Canadian canola crop tightens global rapeseed and canola supply, supporting canola meal and oil prices and raising costs for feed buyers.
brecorder.comReutersSep 15, 2021
reuters.comRod NickelSep 14, 2021
tridge.comVictor LangatSep 14, 2021Not enough comparable past events yet for a historical read.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
