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Canola prices are under pressure from high crop expectations and weaker demand, with Viterra's analyst noting China accounted for 4 million of roughly 10 million tonnes of seed exports. Canada could end the crop year with carryout of six to seven million tonnes, down from a large carryout last year.
Weak demand from the loss of China and harvest selling pressure point to lower canola prices, though a smaller expected carryout limits the downside.
realagriculture.comRealAgriculture News TeamOct 23, 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.
