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Old-crop canola prices kept rising, with the March contract closing at C$753.60 per tonne on Wednesday. Analyst Neil Townsend said prices could reach C$18 to C$20 a bushel and warned that tight supply could push companies to stop bidding.
Tight old-crop canola supply and a possible shift to no-bid structures point to further price support for canola and its meal, with the calendar favouring producers as long as Western Canadian seeded area does not rise sharply.
cjwwradio.comNeil BillingerFeb 17, 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.
