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The Canola Council of Canada reported that China has stopped buying all canola products from Canada, which was worth about $2.7 billion CAD in seed exports in 2018. Canola prices fell more than $14 CAD/MT on the day, and AAFC cut 2018/19 Canadian exports by 1 MMT.
Losing China, Canada's largest canola market, adds surplus to Canadian supplies and pressures canola meal and seed prices. The cut to export estimates confirms the weaker demand outlook.
realagriculture.comBrennan TurnerMar 22, 2019Not 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.
