and Canola
https://agupdate.com/farmandranchgui...related-bottom
Canola prices have taken a breather in the past two weeks after running up significantly since June 1. Moderate weather conditions and forecasts in the U.S. have eased some concerns over crop production, which has negatively affected the markets. However, very dry conditions in Canada will result in a much smaller canola crop than anticipated just two months ago. Total canola production in Canada may be in the 16 million metric tons (MMT) to 17 MMT range compared to government estimates of 18.8 MMT.
Agriculture & Agrifood Canada recently estimated canola ending stocks for the upcoming year of 600,000 metric tons (MT) and an average canola price of $760 CAD. Ending stocks and exports will have to be cut in the next monthly report. With the lower production seen curtailing canola exports, there have been reports of two cargoes of European ****seed delivered to eastern Canada recently. This is not a surprise since North American canola is priced well above European ****seed. The European ****seed/canola spread ended the month of July at minus $104 per MT USD (canola over ****seed). This is the largest spread seen in 20 years.
https://agupdate.com/farmandranchgui...related-bottom
Canola prices have taken a breather in the past two weeks after running up significantly since June 1. Moderate weather conditions and forecasts in the U.S. have eased some concerns over crop production, which has negatively affected the markets. However, very dry conditions in Canada will result in a much smaller canola crop than anticipated just two months ago. Total canola production in Canada may be in the 16 million metric tons (MMT) to 17 MMT range compared to government estimates of 18.8 MMT.
Agriculture & Agrifood Canada recently estimated canola ending stocks for the upcoming year of 600,000 metric tons (MT) and an average canola price of $760 CAD. Ending stocks and exports will have to be cut in the next monthly report. With the lower production seen curtailing canola exports, there have been reports of two cargoes of European ****seed delivered to eastern Canada recently. This is not a surprise since North American canola is priced well above European ****seed. The European ****seed/canola spread ended the month of July at minus $104 per MT USD (canola over ****seed). This is the largest spread seen in 20 years.
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