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ICE canola futures finished stronger on January 18 as a weaker Canadian dollar supported prices. CBOT soybean, oil and meal contracts also rose, and Brazil's consultancy cut its soybean crop estimate to 117.2 million tonnes.
The lower Brazilian crop estimate and firmer soyoil tighten the global soy complex, supporting soymeal and canola meal prices for feed buyers.
producer.comAshley RobinsonJan 18, 2019After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), and -0.5% over 20.
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.
