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Canadian canola prices have fallen substantially as China's effective blockade of the crop continues. Farmers are planting about 1.5 million fewer canola acres than in 2018, with some switching to wheat and soybeans.
Reduced Canadian canola acreage tightens future supply somewhat, but the loss of China as a buyer keeps domestic canola prices under pressure and shifts demand toward other oilseeds.
cbc.caDavid Common, Melissa ManciniMay 15, 2019Not enough comparable past events yet for a historical read.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
