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January ICE canola closed C$4.50 lower at C$452.10 per tonne on Monday, Dec. 2, breaking below support near C$456.80.
The move came with high volume and weakness across global oilseed and vegetable oil markets, and noncommercial traders were paring bearish net-short positions.
Technical breakdown and weakening spreads point to softer canola values amid weak global oilseed sentiment, which lowers the cost of canola meal inputs for feed buyers.
dtnpf.comCliff JamiesonDec 2, 2019Not 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.
