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Canada is shipping canola to drought-hit Europe after China suspended the licenses of Richardson International and Viterra and halted most other Canadian canola purchases over pest concerns. The two countries have been in a diplomatic and trade dispute since December.
Redirecting Canadian canola to Europe partly offsets the loss of China demand, but European drought-driven shortfalls support canola and rapeseed meal prices while Canadian export flows remain constrained.
reuters.comRod NickelAug 22, 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.
