Loading…
ICE Futures Canada canola contracts traded lower in the week ended December 21 as steady demand was offset by large oilseed supplies, with most traders rolling from January into March. Analysts pegged $520 per tonne as major support, with $510 a possible downside level, and expected USDA to raise soybean yields in its January 12 report.
Expectations of a larger US soybean crop and ample Canadian oilseed supplies point to softer canola meal and oil values, while Brazil's record-big crop looms as the next competitive factor.
agcanada.comAGCanadaDec 22, 2016Not 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.
