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Since their May 7 contract highs, July canola has fallen $124.80 a tonne and November has fallen $62.80 a tonne as of May 21. Cash bids across Prairie regions have also dropped, partly due to a stronger Canadian dollar and competition from other oilseeds.
Falling futures and weaker basis cut the price farmers receive and signal softer canola meal costs ahead. Tight uncommitted old-crop supplies limit how far prices can fall.
dtnpf.comCliff JamiesonMay 24, 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.
