Loading…
Agriculture and Agri-Food Canada forecasts canola seeded area rising 3 percent to about 21 million acres and soybean area rising 8 percent to a record 5.93 million acres. It expects canola prices to ease to C$490-530 per tonne and soy to fall to C$435-475 per tonne.
Larger expected oilseed acres and lower soy and canola price forecasts point to ample future oilseed meal supply, which is bearish for oilseed meal prices.
agcanada.comAGCanadaFeb 1, 2017Not enough comparable past events yet for a historical read.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% 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.
