Canola Market Outlook: February 28, 2022

Written By SaskCanola

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

Key Points for the Week:

  • Soybeans – Following the invasion by Russia of the Ukraine, soybeans shot up and were the most volatile commodity. Futures went up again today by 54c/bu.

  • The extent of production losses of South American soybeans and the consequent switch of demand to the USA have not yet been fully incorporated into the market.

  • Canola – Total canola disappearance during the first twenty-eight weeks of the new crop year amounted to 8.9 million MT compared to 12.7 million MT last YTD.

  • We expect canola to follow soybeans and see no weakness for now.

  • We see no need to make additional canola sales at this time.

SaskCanola
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Canola Market Outlook: March 7, 2022