# Canola prices retreat in early July

> November canola futures fell about C$37 per tonne through July 16 after a downtrend began July 5, when the broader ag complex weakened. Soybean oil fell by a similar percentage over the same span. U.S. canola crush for the marketing year is up over 8% year on year.

- Date: 2024-07-23 · published 2024-07-23T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/12829-canola-prices-retreat-in-early-july
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Canola is tracking soybean oil closely, so further soyoil weakness would keep pressure on canola prices into harvest. Higher crush and export estimates provide some demand support.

## Read by commodity

- CANMEAL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CANMEAL | 2024-07-22 | 1 | -5.0% | -2.7 | Canola futures were in a downtrend from July 5 as the broader ag complex weakened, which supports a bearish backdrop for canola meal, though the article is dated after the move. |

## Sources

- agupdate.com: https://agupdate.com/farmandranchguide/markets/crop/canola-prices-retreat-in-early-july/article_72d6b36c-4484-11ef-ba71-e7aa0bfdb345.html

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