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Canola Digest's market outlook says global vegetable oil and meal demand keeps rising and forecasts a 3% increase in Western Canadian canola acres to a record 23.75 million acres. Prices in 2017-18 have been relatively stable, and soybean production trends in South America are highlighted as the main oilseed driver.
A record Canadian acreage increase points to larger future canola supply, which is bearish for canola prices, while rising global demand supports the market.
canoladigest.caChuck PennerMar 6, 2018Not enough comparable past events yet for a historical read.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
