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The Canadian dollar weakened in New York trading as crude fell to the mid-$93 range. Reports said the U.S. is reviewing the latest Iran mediator proposal.
Trump said a trade agreement with Canada is near and that Canada will supply fertilizer to the U.S. without tariffs.
A tariff-free Canadian fertilizer supply to the U.S. would ease potash and nitrogen costs for American farms, which tends to be bearish for fertilizer prices. Lower crude also reduces the cost pressure on biofuel feedstocks and freight.
jp.investing.comNov 3, 2026
zaikei.co.jpNov 3, 2026Not enough comparable past events yet for a historical read.
After 80 past bearish trade events, WTI moved a median -2.2% over 5 sessions (30% higher; middle half -6.9% to +0.8%), and -1.5% over 20.
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.
