Loading…
Canadian canola crushing plants are running near full capacity, around 80 to 85 percent and sometimes 90 percent, limiting their ability to absorb canola seed that China has stopped buying. Oil and meal exports to China continue, but processors say there is little spare capacity to add volume.
With crushing capacity maxed out, Canadian seed cannot be shifted into oil and meal to offset lost Chinese demand, keeping pressure on canola seed prices and leaving more seed in storage.
manitobacooperator.caAllan DawsonMay 6, 2019Not enough comparable past events yet for a historical read.
After 81 past neutral trade events, Soybean Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +1.8%), and +0.9% over 20.
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.
