Canola Market Outlook: April 4, 2022

Written By SaskCanola

Weekly canola market outlook provided by Marlene Boersch of Mercantile Consulting Venture Inc.

Key Points for the Week:

  • Soybeans – USDA estimated soybean planted area for 2022 at a record 91.0 million acres, up 4% from last year.

  • We think that the USDA 91 million acre estimate for soybean acres is too high and makes little sense given the current low soybean-corn ratio.

  • Canola – Total canola disappearance during the first thirty-four weeks of the crop year amounted to 10 million MT compared to 14.9 million MT last YTD.

  • Rapeseed oil in Rotterdam remains above $2,200.00/MT.

  • We see no reason to sell additional canola at this time.

SaskCanola
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Canola Market Outlook: April 11, 2022
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Canola Market Outlook: March 28, 2022