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Winnipeg analyst Wayne Palmer expects ICE canola to break above $900 per tonne, with the biggest moves likely in late October. He cites drought, below-average US yields, and end-users buying ahead of harvest completion.
European rapeseed and Malaysian palm oil have hit new contract highs.
Drought-driven supply concerns and strong rival oilseed prices support canola meal, although a stronger US dollar is a headwind.
agcanada.comAGCanadaSep 30, 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.
