Loading…
ICE canola futures fell by their C$30 per tonne daily limit on June 17, 2021, in line with a sharp selloff in Chicago soybean futures. Speculators were liquidating long positions, and the Canadian dollar fell below 81 U.S. cents.
Uncertainty over possible U.S. biofuel blending requirement changes was also cited.
Fund liquidation and a stronger U.S. dollar pushed canola and soy complex prices lower even though canola fundamentals were still relatively supportive. Lower oilseed meal and oil prices reduce protein and fat feed costs, while biofuel policy uncertainty could support or pressure demand for soybean oil.
ukragroconsult.comJun 18, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
