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Canadian canola shipments to Europe's biodiesel market have picked up, but the outlook is described as uncertain. The plunge in crude oil prices has undercut ethanol demand and eroded margins for fuel made from canola.
Weak crude prices reduce biofuel margins for canola oil, limiting demand support and pressuring canola and vegetable oil prices.
thestar.comJen Skerritt BloombergApr 10, 2020After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
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.
