1161 days ago • Posted by William Ramstein
Canola futures hits new high with supply concerns
Canada, the world’s biggest canola producer, had more than four times the amount of oilseed in its bins at the end of last crop year, at 3.1 million tons. Dwindling supplies have come after China accelerated its canola imports from Canada. Year-end inventories for the next crop year will also be at 700,000 tons by July 2022, even with production rising 8% to 20.2 million tons for the year beginning Aug. 1, according to the agriculture department’s forecast. Source: Bloomberg
