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Oil World raised its forecast for Australia's canola crop by 0.3 million tonnes to 3.8 million tonnes, the highest in four seasons, while other analysts expect no more than 3.3 million. Australian canola exports are forecast to rise to 2.6 million tonnes, and the EU is expected to import more Australian canola in early 2021.
European rapeseed and Canadian canola prices remained firm.
A larger Australian crop and expected EU import demand partly offset firm canola prices, so buyers may see supply support but limited downside.
graintrade.com.uaNov 30, 2020Not 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.
