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ICE canola has entered a winter lull with little driving the market, according to traders. Canola weakened for a week as the Canadian dollar rose above 75 US cents.
Traders suspect Chinese reluctance to buy Canadian canola following the Meng Wanzhou arrest, while soy rallied on US-China trade hopes and Brazil dryness.
Weak buying interest and a stronger Canadian dollar pressure canola prices lower, while meal strength supports crush margins.
agcanada.comAGCanadaJan 10, 2019Not 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.
