Canola Market Outlook: May 17, 2022

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

Key Points for the Week:

  • Soybeans – The US weather forecast remains concerning with ongoing cold & wet conditions in the N Plains, and hot & dry conditions in the central and S Plains.

  • The upcoming USA export pace will increase as S American supplies lessen until their new crop comes in. Soybeans are undervalued to corn although they are at a record high on new crop.

  • Canola – Total canola disappearance during the first thirty-eight weeks of the crop year amounted to 11.6 million MT compared to 17.4 million MT last YTD.

  • While weather/ seeding needs to be watched, we expect Cdn. canola acreage to rise somewhat, while EU production is forecast to increase by 8%.

  • We would be sold out of old crop canola and have some new crop sales on the books to secure record values for canola.

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Canola Market Outlook: May 24, 2022

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Canola Market Outlook: May 9, 2022