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Canadian canola futures on ICE reached A$1017 per tonne before easing to A$984, reflecting a severe drought in Saskatchewan that produces over half of Canada's canola. June and July temperatures ran above average and rainfall was well below normal.
Drought-driven yield losses in Saskatchewan are pushing canola values to record levels, raising the cost of canola meal for feed formulators and supporting alternatives like soybean meal.
farmweekly.com.auAndrew WhitelawJul 20, 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.
