Canola Market Outlook: March 14, 2022

Written By SaskCanola

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

Key Points for the Week:

  • Soybeans – CBOT soybean and soybean products all ended the week higher.

  • In Wednesday’s USDA report, the agency lowered S American production for the 3rd straight month: Production fell by 9.5 mln mt to a combined total of 175.8 mln mt which is 27.7 mln mt lower than the USDA December estimate.

  • Canola – Total canola disappearance during the first thirty weeks of the crop year amounted to 9.4 million MT compared to 13.6 million MT last YTD.

  • Rapeseed oil in Rotterdam hit an incredible $2,180.00/MT.

  • We see no reason to trade additional cash canola or futures at this time.

SaskCanola
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