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Canola futures rose to above C$650 per tonne, with the January contract up C$7.70 to C$655.20. The gain was tied to strength in Chicago soy complex and speculation about Chinese purchases of U.S. soybeans.
The article also cites reduced Southern Hemisphere production forecasts and strong crushing demand.
Stronger soy and canola values support oilseed meal and oil prices, which feed into feed cost and crush margin calculations. The rally reflects tighter global oilseed supply and biofuel demand.
markets.financialcontent.comMarketMinuteJun 18, 2019Not enough comparable past events yet for a historical read.
Not 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.
