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Australian canola prices for 2017 are holding near 2016 levels, with bids around A$530/t at port despite a stronger Australian dollar. Australian Oilseeds Federation said returns remain above A$500/t and an overall shortage of canola has supported values.
Exports from WA, especially EU-certified sustainable canola, have started strongly, with about 2 Mt expected to be shipped by late February.
Firm Australian canola prices and strong export pace tighten exportable supply and support oilseed values, while a rising currency has partly offset farm-gate prices. Growers may shift planting toward oilseeds given the favourable price relationship with cereals.
graincentral.comHenry WellsFeb 1, 2017Not enough comparable past events yet for a historical read.
Not 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.
