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Strategie Grains estimates European imports for biodiesel could reach a record 5.8 million metric tons in 2019-20, up from 4.2 million in 2018-19. Reports put potential Canadian exports between 1.2 and 3 million tonnes, with about 1 million tonnes of new-crop booked in July.
Canadian cash canola bids were steady at C$417.80 per tonne as of August 21.
Strong European demand for Canadian canola could lift bids if export sales materialize, though cash prices have been range-bound. The widening rapeseed-canola spread suggests Canadian canola is seen as relatively cheap.
dtnpf.comCliff JamiesonAug 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.
