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Statistics Canada data showed canola inventories in Canada fell 49% to 1.8 million metric tons as of July 31, the lowest since 2017. Strong demand for cooking oil and higher Chinese purchases, with exports up about a third, drew down stocks.
Tight old-crop canola stocks and strong export pull support canola meal and oil values until new-crop supply arrives, limiting cheap feed options.
feedandgrain.comSep 9, 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.
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.
