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Statistics Canada reported July 31 canola stocks at 1.35 million tonnes, versus 2.09 million a year earlier, and wheat ending stocks at 6.87 million tonnes. Analysts said the canola market is focused on new crop and rebuilding the commercial pipeline.
Tight canola supplies underpin prices into the new crop year, while higher wheat stocks are a bearish factor for wheat values.
agcanada.comAGCanadaSep 6, 2017Not enough comparable past events yet for a historical read.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
