Loading…
Statistics Canada's seeding intentions survey projects canola area down 6.6% to 21.3 million acres, the smallest since 2016, with Saskatchewan canola down 5%. Spring wheat area is forecast up 12% nationally while durum falls more than 15%, and barley area is expected to rise.
Lower canola acres reduce future canola meal supply, while the shift toward cereals adds feed grain supply; the weaker canola outlook reflects China's suspension of Canadian canola imports.
cjwwradio.comNeil BillingerApr 24, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 1,006 past bearish report events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
