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Canada has made its first formal move at the World Trade Organization to challenge China's ban on Canadian canola imports, which began in March 2019. The filing follows Beijing's detention of a Huawei executive, and Canada says China has not provided scientific justification for the restrictions.
Canada was China's largest canola market, accounting for about 40% of Canadian canola exports.
The ongoing ban removes a major export outlet for Canadian canola, keeping domestic seed and meal supplies heavy and pressuring prices. A WTO process is slow, so the near-term price impact depends on whether access is restored.
reuters.comDavid LjunggrenSep 6, 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.
