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ICE Futures Canada canola contracts finished mixed in the week ended April 12 as traders rolled from the May contract into deferred months. The May contract gained $5.70, helped by reports of tightening canola supplies across Western Canada.
Analysts said cash basis levels have improved and that growers are wary of expanding canola acres further.
Tightening spot supplies and improving basis support nearby canola prices, while the commercial interest in deferred contracts suggests expected future supply. This is routine market commentary with no new external cause.
farmtario.comDave SimsApr 12, 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.
