Weekly Wrap Up - November 22, 2024

Corn 🌽: Unchanged
Soybeans 🌱: Down $0.15
Canola 🛢️: Down $54.50/tonne, closing at $592.20
Spring Wheat 🌾: Up $0.11, closing at $6.02
Corn remained steady this week as strong export and ethanol demand was offset by a stronger U.S. dollar. Soybeans fell on favourable weather in South America, while canola saw significant losses following declines in palm and soybean oil markets. Spring wheat managed a small gain due to rising tensions between Russia and Ukraine.
Looking ahead:
🛢️ Canola is expected to trade between $580-$600, with potential downside to $565.
🌾 Spring wheat is likely to stabilize and climb towards $6.15-$6.25.
Stay tuned for more market insights and recommendations next week! 🌾📊
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