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RealAgriculture reports Statistics Canada projects 2020 canola production down 0.4% to 19.4 million tonnes, with higher yields and lower harvested area. November canola futures rose above C$500/tonne for the first time in a long time, supported by strength in soybeans and soyoil.
A slightly smaller Canadian canola crop and firm vegetable oil markets support canola prices, though seasonal harvest selling may cap gains. Canola meal supply tightens modestly if crush is steady.
realagriculture.comRealAgriculture News TeamSep 1, 2020Not enough comparable past events yet for a historical read.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
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.
