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Canadian canola prices have risen mainly because soyoil gains are pulling them up, not because of weather, according to a PI Financial trader. Canola remains expensive relative to soybeans, and the threat of a very large US soybean crop is weighing on the complex.
The Canadian dollar firmed on NAFTA renegotiation optimism.
Canola's price tracks soyoil closely, so soyoil moves transmit to canola meal values, while a large expected US soybean crop caps upside for the oilseed complex.
farmtario.comAshley RobinsonOct 4, 2018Not 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.
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.
