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USDA FAS Canada reduced its 2018/19 canola seed export estimate due to further disruption of shipments to China. It also raised 2018/19 ending stocks and cut 2019/20 planted area while raising 2019/20 ending stocks.
Lower export forecasts and larger ending stocks signal a burdensome global oilseed supply, which points to weaker canola meal and seed prices in the near term.
fas.usda.govMay 21, 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.
