Loading…
November canola futures closed above the 61.8% retracement of the January-to-March move at C$485.20 per tonne on March 30, 2020, and above the 100-day moving average at C$485.50. The May contract hit a fresh March high, gaining C$4.30 per tonne.
Canadian dollar weakness and gains in global oilseed and vegetable oil futures supported prices.
Technical breakouts and firmer vegetable oil and currency moves support canola values, which tightens the meal supply outlook and firms feed costs for buyers in the near term.
dtnpf.comCliff JamiesonMar 30, 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.
