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ICE Futures Canada canola contracts rose during the week ended April 26 as weather concerns mounted across the Canadian Prairies. Persistent cool, wet conditions could delay planting, and tightening old-crop supplies add support.
Planting delays and tighter old-crop canola supplies support higher canola prices, while a weak U.S. soybean outlook caps gains; resistance is seen around $530-540 per tonne.
grainews.caGFM Network NewsApr 26, 2017Not enough comparable past events yet for a historical read.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), 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.
