Canada Markets Blog
Cliff Jamieson Canadian Grains Analyst
Wed Jan 15, 2014 10:52 AM CST

Historically, canola prices have been highly sensitive to the direction of the soybean market. At last year's Grainworld conference in Winnipeg, a highly respected canola trader flashed a picture of the Endeavor space shuttle being transported on top of a much larger jumbo jet, suggesting that the huge soybean market would control the overall direction of travel as did the jumbo jet hauling the space shuttle.

This is not the case with the present market. As recently as Nov. 21, the March canola contract traded at a modest $4.11 per metric tonne premium to soybeans in Canadian dollars per metric ...

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