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DTN charts global and Canadian canola stocks-to-use ratios alongside prices. USDA's April report raised global canola carryout to 7.56 mmt, the highest stocks-to-use in four years, and cut Canada's export forecast to 10.6 mmt.
A Canadian producer estimated losses of $1 per bushel since China's restrictions.
Rising global carryout and weaker Canadian exports point to bearish canola pricing in the near term.
dtnpf.comCliff JamiesonApr 9, 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.
