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Cofco plans to buy 2.5 million tonnes of Canadian canola next year, up over one-third from this year, through its Winnipeg trading office, which buys from exporters at ports. About two million tonnes would be processed in China into meal and oil, with the rest possibly traded to countries such as Pakistan.
A larger committed buyer supports Canadian canola export demand and seed prices. However, Cofco's demand is constrained by China's preference for soybean protein, so the impact on canola meal is limited.
grainews.caRod Nickel, GFM Network NewsNov 15, 2017Not 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.
