Loading…
ICE canola futures swung widely over the week ended Wednesday, dropping more than $50 per tonne from contract highs in the nearby May contract before recovering to near those levels. Analysts cite tight canola supplies, strong vegetable oil markets and firm Western Canada basis as support.
Tight old-crop supplies and crusher demand for canola keep prices supported, while the USDA acreage report on March 31 could shift new-crop expectations and prices.
grainews.caPhil Franz-Warkentin, GFM Network NewsMar 25, 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.
