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An analyst said canola prices had improved in recent days, partly on better U.S.-China trade relations. He cited export opportunities to the European Union, where canola is used in diesel blending, and expected wheat to hover around $6 a bushel due to abundant global supplies.
Improved trade sentiment and new EU biodiesel demand prospects support canola values, while ample global wheat supplies keep grain prices capped for feed buyers.
620ckrm.comHarvard MediaSep 16, 2019Not enough comparable past events yet for a historical read.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
