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USDA's August estimates cut global rapeseed/canola production to 68.1 million tonnes, mainly from a 1.5 million tonne cut to Ukraine's crop potential. Global ending stocks fell to 4.57 million tonnes, the lowest in 13 years, pushing the stocks-to-use ratio to 6.6%.
A tighter global canola balance sheet with the lowest stocks-to-use since 2003-04 supports canola and canola meal prices and reduces available supply for feed buyers.
dtnpf.comCliff JamiesonAug 12, 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.
