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Cash canola bids on the Canadian Prairies fell on 21 and 22 July after reaching a crop-year high on 20 July. The November ICE contract also slipped and failed at technical resistance near 487 dollars per tonne.
Weakening cash bids ahead of the new crop may signal softer old-crop demand, pressuring canola-linked prices in the near term.
dtnpf.comCliff JamiesonJul 22, 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.
