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ICE canola futures gained after the U.S. Commerce Department imposed antidumping duties on Argentine and Indonesian biodiesel, which lifted U.S. soyoil. Snowfall in northern Alberta is slowing harvest, and rain in northern Brazil eased dryness concerns for soybeans.
Support for soyoil from biodiesel duties spills over to canola, and Brazilian rain may raise global oilseed output, limiting upside.
grainews.caGFM Network NewsOct 25, 2017Not enough comparable past events yet for a historical read.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% 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.
