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Australian farmers are forward selling new-crop canola as domestic prices near $600 a tonne for non-GM seed. Demand for canola oil is strong, and dry weather in Europe is tightening rapeseed stocks.
Biodiesel demand is falling with COVID-driven diesel declines.
Tight European stocks and a weaker Australian dollar support canola prices, while falling biodiesel demand is a downside risk.
graincentral.comLiz WellsApr 27, 2020Not enough comparable past events yet for a historical read.
Not 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.
