# A Sea of Meal

> Canadian canola crushing capacity is set to rise from 11 million to 18 million tonnes if announced plants are built, adding roughly 3.5 million tonnes of meal to the market. A similar expansion of US soybean crushing is underway, and the industry is seeking new markets for meal.

- Date: 2024-01-01 · published 2024-01-01T12:00:00.000Z
- Category: macro · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/11437-a-sea-of-meal
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Growing meal supply relative to demand could weigh on canola and soybean meal prices unless new feed and export outlets develop. Strong biofuel-driven oil demand supports crush expansion, shifting value toward oil over meal.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2023-08-21 | [Soybean meal in Russia has risen in price against the background of the weakening of the ruble](https://feedsoft.ai/events/34669-soybean-meal-in-russia-has-risen-in-price-against-the-background-of-the.md) | +2.6% | -3.1% |
| SBM | 2026-10-28 | [Sharp decline in Brazilian real boosts competitiveness of soybean meal exports](https://feedsoft.ai/events/131-sharp-decline-in-brazilian-real-boosts-competitiveness-of-soybean-meal-exports.md) | -3.8% | — |
| SBM | 2022-02-28 | [Soymeal Demand Slowing in China](https://feedsoft.ai/events/42704-soymeal-demand-slowing-in-china.md) | +4.2% | +9.0% |
| SBM | 2020-01-28 | [Soybean market looking for good news \| An official publication of Michigan Farm Bureau](https://feedsoft.ai/events/55165-soybean-market-looking-for-good-news-an-official-publication-of-michigan-farm.md) | -2.7% | -3.8% |
| SBM | 2025-09-10 | [Agri-feed prices to stay low with US sat on growing pile of soymeal, says Rabobank - Undercurrent News](https://feedsoft.ai/events/22977-agri-feed-prices-to-stay-low-with-us-sat-on-growing-pile-of-soymeal-says.md) | -1.6% | -6.5% |
| SBO | 2022-09-01 | [What Europe’s Power Crisis Means for Oilseeds \| CZ app](https://feedsoft.ai/events/39706-what-europe-s-power-crisis-means-for-oilseeds-cz-app.md) | -2.6% | -10.8% |
| SBO | 2021-07-29 | [Valero sees favorable refining margins for 2021 as it hikes renewable diesel output \| S&P Global](https://feedsoft.ai/events/46038-valero-sees-favorable-refining-margins-for-2021-as-it-hikes-renewable-diesel.md) | -2.4% | -8.3% |
| SBO | 2020-03-13 | [Crude oil sell-offs see prices for palm oil decline \| Analysis & Features \| The Grocer](https://feedsoft.ai/events/54237-crude-oil-sell-offs-see-prices-for-palm-oil-decline-analysis-and-features-the.md) | -2.6% | +4.8% |

## Sources

- deere.ca: https://www.deere.ca/en/publications/the-furrow/2024/january-2024/sea-meal/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.