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MarketsFarm analyst Mike Jubinville said canola is undervalued because of the China trade issue, and palm oil is at a two-year high. He noted world vegetable oil stocks-to-use is falling toward multi-decade lows and canola trades at a narrower premium to soybeans than usual.
Tightening global vegetable oil stocks support canola oil and meal values, though China access remains a drag on the Canadian canola price.
cjwwradio.comNeil BillingerDec 6, 2019Not 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.
Palm oil at a two-year high and falling global vegetable oil stocks-to-use point to tight supply and strong momentum in the week of the move.
