Australian CBH lowers canola pool sales return estimate
Australian CBH cuts canola pool sales return estimate
According to the latest report released over the weekend by CBH of Western Australia, the estimated pool sales return for 2009/10 canola was lowered by 15 Australian dollars to 455 Australian dollars per tonne, FOB.
CBH said negotiations between Canada and China created an uncertain atmosphere in the market, intensifying bearish sentiment. Improved weather in the United States and Canada and good canola crop conditions in the Northern Hemisphere also put pressure on Australian canola sales.
China's General Administration of Quality Supervision, Inspection and Quarantine said that starting from November 15, 2009, the official inspection and quarantine authorities of Canada and Australia should conduct batch-by-batch testing of canola exported to China for Leptosphaeria maculans, and state the test results in the additional declaration column of the phytosanitary certificate.
CBH said negotiations between Canada and China created an uncertain atmosphere in the market, intensifying bearish sentiment. Improved weather in the United States and Canada and good canola crop conditions in the Northern Hemisphere also put pressure on Australian canola sales.
China's General Administration of Quality Supervision, Inspection and Quarantine said that starting from November 15, 2009, the official inspection and quarantine authorities of Canada and Australia should conduct batch-by-batch testing of canola exported to China for Leptosphaeria maculans, and state the test results in the additional declaration column of the phytosanitary certificate.