Reading Time: 2 minutes Without the Chinese market, it’s only a matter of time before canola futures are poised to break below C$600 per tonne in its November contract, said Phil Speiss, trader with RBC Dominion Securities in Winnipeg.
‘Lack of bullishness’ says trader
Multiple factors dragging down futures
Crop receipts roughly level, direct payments fall on reduced crop insurance
China has yet to book US soybean imports for fourth quarter
Rains range from none to 110 mm
Soyoil a bright spot