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ICE Futures Canada canola contracts posted large losses in the week ended May 24, with the new-crop November contract breaking below $488 per tonne. Analysts see a possible move to $478 amid weak global markets following Moody's downgrade of China, though Western Canada planting problems offer some support.
Technical selling and macro weakness are pressuring canola, while planting delays in Alberta and Saskatchewan could limit further downside.
manitobacooperator.caGFM Network News, Phil Franz-WarkentinMay 31, 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.
