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ICE Futures Canada canola fell to $500 a tonne for November contracts on June 19, down from $528 on June 1, as trade war rhetoric and turmoil in grain markets pressured prices. Funds are net short after the selloff, while Chinese buying of canola oil and seed and slow farmer selling provide some support.
Statistics Canada releases acreage estimates on June 29.
Trade-war uncertainty and fund short positioning are pressuring canola, a key meal source for feed buyers; Chinese demand and a weaker Canadian dollar offer partial offset ahead of the acreage report.
farmtario.comDave SimsJun 20, 2018
agcanada.comAGCanadaJun 21, 2018After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
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.
