WINNIPEG, Manitoba — Intercontinental Exchange canola futures were pulling back at mid-session Thursday. However, concerns over the South American soybean crop were filtering in, according to a trader. “How big is the Brazil crop? How much damage is the Argentina crop taking from the current hot, dry situation?” the trader posed. Most consultancy projections for the Brazil soybean harvest have dropped to less than 150 million metric tons, while fresh numbers have yet to come out of Argentina which had been set to double its soybean harvest from last year. “There’s just enough uncertainty to keep the markets a little bit on edge, but not enough to spark anything big at the moment,” the trader commented. He noted canola has…
Published Date: 2024-02-01
Source: Market Screener
Categories: Business, Investing, Day Trading, Agriculture and Forestry, Marketplaces, Import and Export
