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Chinese buyers are turning away from US soybeans because of a 25 percent tariff and are looking for other oilseed and protein sources for feed rations. Canadian canola and peas are gaining share in that mix.
An analyst expects strong demand to tighten new-crop canola ending stocks despite a large Canadian crop of about 21 million tonnes.
Stronger Chinese and domestic crusher demand for canola supports canola meal and seed prices. Substitution away from US soybeans is a direct source of new export demand for Canadian oilseeds.
cjwwradio.comNeil BillingerJul 23, 2018Not 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.
