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January canola futures closed Monday at $461.10/mt, $2.30 lower, trading within a narrow $8.80 range over seven sessions. Noncommercial traders increased their net-short canola position to 61,584 contracts as of 22 October, while spreads weakened.
Weak spreads and rising speculative shorts point to bearish near-term pressure on canola, though delayed Prairie harvest limits downside.
dtnpf.comCliff JamiesonOct 28, 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.
