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ICE canola futures finished mixed on Tuesday, with nearby contracts firmer on short covering. Rumours of China increasing Canadian canola imports circulated but were not confirmed.
Soybean futures rose after USDA prospective plantings data showed acreage slightly below expectations.
Price action was driven mainly by short-term positioning and unconfirmed rumours, so the signal for canola meal is limited. The USDA planting and stocks figures add some support to soybean complex values.
producer.comMarlo GlassMar 31, 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.
