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Canadian farmers are expected to shift acreage toward canola this spring as China plans tariffs on U.S. soybeans. Canola plantings could reach 24 million acres, the most ever and up 4.4% from a year earlier.
Canola is a substitute for soybeans in feed and oil, so China's shift toward Canadian oilseeds supports canola and rapeseed meal demand while the larger Canadian crop adds supply later in the year.
bloomberg.comJen SkerrittApr 9, 2018Not enough comparable past events yet for a historical read.
After 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.
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.
