Loading…
November canola closed $2.10 lower at $525 per tonne after setting a contract high of $527.80 on Tuesday. The Canadian dollar gained 87 basis points against the US dollar, and seeding in the US is running ahead of average.
A stronger Canadian dollar and faster seeding add bearish pressure on canola, while the widening carry in the Nov/Jan spread signals weaker commercial demand.
dtnpf.comCliff JamiesonMay 30, 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.
