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Canadian canola futures fell sharply on March 23, with the May contract settling at $488.30 per tonne, down $13.30 on the day and at its lowest since October 2016. Stop-loss orders triggered larger declines after a modest downtrend through March.
Cash bids from crushers and line companies fell by the same amount.
Canola crush margins widened to about $114 over May futures because product values fell less than seed prices. Wider margins encourage crushing, but the drop reflects weaker soybean complex sentiment tied to large South American crop prospects.
farmtario.comPhil Franz-WarkentinMar 23, 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.
