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Agriculture and Agri-Food Canada's February outlook cut Canadian 2016/17 canola ending stocks by 900,000 mt to 1.1 mmt, the lowest in four years, after raising export demand by 500,000 mt to 10 mmt and crush by 100,000 mt to 9 mmt. Crush and exports are running ahead of last year's pace.
The March/May spread has narrowed to minus $5.20/mt.
A sharply reduced carryout and strong crush and export demand tighten the canola balance, supporting nearby canola prices and oilseed meal values.
dtnpf.comCliff JamiesonFeb 22, 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.
