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European rapeseed prices declined as vegetable oil prices fell and forecasts pointed to higher soybean output next season. Oil World cut its EU 2018 rapeseed crop forecast by 0.5 million tonnes to 21.2 million, citing dry weather.
Canadian canola fell about 3.7% since early June to 511 CAD/t.
Lower EU rapeseed crop estimates from drought are supportive for rapeseed meal, but heavy carry-over stocks and weaker vegetable oil prices limit the upside for feed buyers.
graintrade.com.uaJun 11, 2018Not enough comparable past events yet for a historical read.
After 49 past bearish weather events, Soybean Oil moved a median -0.5% over 5 sessions (43% higher; middle half -3.2% to +1.0%), and -0.3% 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.
