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Canola prices fell after China expanded its ban on Canadian canola seed imports to include Viterra. Canadian farmers are scrambling to find new buyers, and Chinese importers have also stopped buying canola from Canadian producers.
Canola seed represents about 17 per cent of Canadian exports to China, worth $2.7 billion in 2018.
The loss of China as a buyer weakens Canadian canola basis and futures prices, and the price effect depends on whether farmers find replacement export buyers.
theglobeandmail.comAlexandra Posadzki, Eric AtkinsMar 26, 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.
