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Alberta Agriculture analyst Neil Blue says Canadian canola deliveries and exports fell in 2018-19 after China's March import restrictions. Carryover stocks as of August 1, 2019 are expected to be at a record high, and the 2019 Canadian canola acreage is lower.
Record carryover and reduced Chinese demand add pressure on canola prices and basis, while lower acreage partly offsets the supply overhang for 2019-20.
seed.ab.caMarc ZienkiewiczJul 29, 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.
