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ICE July canola fell $1.30 to C$463.50 after the Meng Wanzhou extradition ruling. A trader said COVID-19 demand weakness and a global grain glut also drove the decline, and that prices will fall before they rise.
Weak hand-to-mouth buying, abundant global grain supplies and the loss of Chinese demand point to continued downside for canola prices.
agcanada.comAGCanadaMay 28, 2020
grainews.caGFM Network NewsMay 28, 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.
