More parts of the "why canola prices haven't picked up" puzzle. Canola needs export business - confirmation of a 50,000 t cargo to China yesterday but, based on industry calculations, seller had to sell at about $10/t below the cost of replacing that seed.
Another part of the puzzle - ocean freight to China from Vancouver now $40-$45/tonne compared to $20-$25/tonne in July and early August. That hurts canola more than soybeans 'cause canola needs exports and soybeans needs exports much less.
Another part of the puzzle - ocean freight to China from Vancouver now $40-$45/tonne compared to $20-$25/tonne in July and early August. That hurts canola more than soybeans 'cause canola needs exports and soybeans needs exports much less.
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