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Canadian canola exporters are looking to the EU biodiesel market to replace lost Chinese sales after China revoked import licenses for two Canadian canola companies. The EU's rapeseed crop is expected to be at a 13-year low, and EU import demand could reach a record 5 million tonnes this season.
Stronger EU import demand for rapeseed and biodiesel feedstock could absorb Canadian supplies and support canola prices, though Canada's share of EU imports is small.
ofimagazine.comQuartz Business MediaOct 8, 2019Not enough comparable past events yet for a historical read.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
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.
