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Heavy snow and rain left about 2.7 million acres of Canadian canola unharvested until spring, roughly 13 per cent of national plantings. Canola futures in China are down 3 per cent year over year despite the harvest problems.
Farmers expect acreage cuts next year.
A loss of about 13 per cent of plantings is a major supply shock for canola meal and oil, though weak Chinese demand and the import ban offset some of the price support.
grainews.caRod Nickel, GFM Network NewsNov 15, 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.
