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ICE canola futures closed at the daily limit higher in the July, November and January contracts on June 23. Prairie forecasts called for higher temperatures and little rain, while soybean oil and European rapeseed gains supported prices.
The Canadian dollar strengthened to 81.27 U.S. cents.
Dry Prairie weather threatens canola yields and soyoil strength lifts vegetable oil values, which supports canola meal prices for feed buyers.
ukragroconsult.comJun 24, 2021Not enough comparable past events yet for a historical read.
After 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), 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.
