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Statistics Canada reports farmers intend to plant 7% less canola in 2019, about 21.3 million acres, below the analysts' average estimate of 21.8 million. Canola futures touched a four-year low the day before the report, and the China dispute is cited as hampering demand.
Smaller acreage is a supply offset, but the reduction was less than expected, so the near-term price effect is limited while weak Chinese demand stays bearish.
agcanada.comAGCanadaApr 24, 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.
