
Statistics Canada's final crop report put Canadian canola production at 21.8 million tonnes, up more than 8% from its September estimate and about 2.5 million tonnes above last year. Average yields exceeded 2,200 pounds per acre on over 21 million acres.
A larger-than-expected Canadian canola crop adds to global oilseed supply, pressuring canola and rapeseed prices and the meal and oil that compete with soybean products.
Not enough comparable past events yet for a historical read.
After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.