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Alberta analyst Neil Blue says cash canola prices are about 5 percent below a year earlier and that Canadian stocks at the 2018-19 year-end were near a record four million tonnes. The futures curve is in a strong carry, reflecting large inventories and restricted demand from the China trade dispute.
A carry market signals ample supply, so canola prices are likely to stay under pressure until China demand returns or stocks are drawn down.
seed.ab.caMarc ZienkiewiczJan 27, 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.
