Canola prices jumped on the first trading day of the new year as concerns about dry weather in Argentina continue to mount, even though weekend rains sparked some liquidation in other oilseeds and grains. Prices have firmed as the weather in Argentina has been the driest in over 30 years. Crop estimates for Argentina continue to be cut by analysts. However, weak crude oil price action on Jan. 4 caused weakness across the entire ag sector, leading to longs exiting the markets.
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Canola market starts strong in 2023
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