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USDA's September estimate put Canadian canola production at a record 19.9 million tonnes, 600,000 tonnes lower than its prior month but well above Statistics Canada's July estimate of 18.2 million tonnes. The article notes USDA has historically tended to estimate higher than Statistics Canada.
A larger Canadian canola crop estimate adds to global oilseed supply, which is bearish for canola meal and oil prices.
dtnpf.comCliff JamiesonSep 12, 2017Not enough comparable past events yet for a historical read.
After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% 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.
