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ICE canola futures rose on May 27, ending a long losing streak as buyers took advantage of recent weakness. Most-active November gained $25.30 to $716.60 a tonne after rains lifted expectations for the next Canadian harvest.
Export demand had weakened after July canola topped $1,000 a tonne earlier in the month.
Improved rain and crop prospects in Canada weigh on new-crop oilseed prices, which can ease costs for canola meal buyers. Renewed buying from short-covering limits the downside.
brecorder.comReutersMay 28, 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.
