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A PI Financial analyst expects ICE canola futures to drift toward the low end of their multi-month range, with a $10-15 per tonne decline possible. He said the 2019 Statistics Canada crop estimate of 18.6 million tonnes matters less than demand, and that the latest USDA report had almost no price effect.
A forecast of lower canola futures reflects weak export demand while China's import ban persists. Lower canola values weigh on canola meal pricing for feed buyers.
grainews.caGFM Network NewsDec 11, 2019Not 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.
