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Statistics Canada reported canola acreage fell 0.8% to 20.8 million acres, the third straight annual decline, while durum rose 16% to 5.7 million acres. Farmers shifted acres amid the China trade dispute and cool spring weather.
Canola exports face hurdles from the yearlong spat with China.
Lower canola plantings reduce expected supply, supporting canola meal prices, while durum acreage gains add to wheat supply pressure.
ajot.comBloombergJun 29, 2020Not enough comparable past events yet for a historical read.
Not 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.
