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Tridge reports that EU canola output likely fell to a 14-year low due to poor weather, with Ukraine also hit. Strong crops in Australia and Canada are not expected to offset the shortfall, and global canola stocks could fall to half of two years ago.
A tight global canola balance supports canola meal and oil prices and may increase demand for substitute protein meals such as soybean meal.
tridge.comJose SalmanSep 30, 2020Not enough comparable past events yet for a historical read.
After 453 past bullish weather events, SBM moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 184 past bullish weather events, SBO moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), 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.
