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November canola futures closed above $500/mt on January 3, gaining $8.70 over three sessions after testing moving-average support. The article notes Statistics Canada's higher-than-expected 2017 production estimate had raised expected 2017/18 ending stocks.
Technical rebound aside, the bearish Statistics Canada stock build caps upside for canola meal and seed, so feed buyers should expect range-bound prices.
dtnpf.comCliff JamiesonJan 3, 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.
