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China approved two biotech canola traits, a Liberty tolerance trait from BASF and Bayer's TruFlex trait, opening the way for commercialization. The Canola Council says the traits and Corteva's Optimum GLY could add $400 million in annual canola production on the same land.
Canada and China also agreed to double agricultural trade by 2025.
Approval of new traits in China, Canada's largest seed customer, supports a larger future canola supply and reassures buyers, which is bearish for longer-term canola prices.
canolacouncil.orgCanola CouncilJan 8, 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.
