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Analyst Neil Townsend expects limited upside for new-crop Canadian wheat and canola this fall, with wheat around $6.50 to $6.75 a bushel and canola at $9.50 to $9.75. He cited the China dispute with Canada and a global oilseed glut led by the US as barriers.
He also flagged a large Argentine wheat crop that may set an export record.
Large Argentine and world wheat supplies cap export prices, and the outlook points to weak wheat and canola values for prairie farmers. Political uncertainty limits upside for Canadian grain.
620ckrm.comHarvard MediaAug 5, 2019Not enough comparable past events yet for a historical read.
Not 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.
