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Statistics Canada pegged 2018-19 canola production at 19.2 million tonnes, below trade expectations and sharply down from 21.3 million last year, due to dryness and heat on the Prairies. Canadian all-wheat output came in at 28.9 million tonnes, on the low side of estimates.
A smaller Canadian canola crop tightens seed and meal supply, supporting canola complex prices and raising feed protein costs.
grainews.caGFM Network NewsAug 31, 2018Not enough comparable past events yet for a historical read.
After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), and +0.5% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
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.
