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A USDA attaché report in Ottawa forecasts Canadian canola plantings up 5% to 8.5 million hectares in 2017-18, with production flat at 18.5 million tonnes. Carry-in stocks are projected at 1.38 million tonnes, far below 3.01 million tonnes at the start of 2014-15.
Exports are forecast to fall to 9.5 million tonnes and the crush to 8.6 million tonnes.
Tight canola carry-out stocks, at a stocks-to-use ratio of 7.7%, limit export availability and keep canola supplies firm. This supports canola meal and oil values, though the outlook is for next season.
customstoday.mediaCT ReportMar 29, 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.
