# Market Update for Rapeseed & Canola 27th of Nov. 2024

> EU rapeseed prices reached US$568 per tonne on average in early November, the highest monthly level since February 2023, while imported US soybeans in Rotterdam were about US$439. OIL WORLD cut 2024/25 world rapeseed production to 75.4 million tonnes, 4.4 million lower year on year.

- Date: 2024-11-27 · published 2024-11-27T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/27511-market-update-for-rapeseed-and-canola-27th-of-nov-2024
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A tighter world rapeseed balance and a widening premium over soybeans point to higher rapeseed and meal prices, and the report signals that further increases are needed to ration demand.

## Read by commodity

- SBM: neutral
- SOY: neutral
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-07-18 | [Canola Market Outlook: July 18, 2022](https://feedsoft.ai/events/40594-canola-market-outlook-july-18-2022.md) | -2.1% | +13.9% |
| SOY | 2018-03-06 | [Market outlook: What’s Ahead for Canola? – Canola Digest](https://feedsoft.ai/events/65970-market-outlook-what-s-ahead-for-canola-canola-digest.md) | -3.1% | -2.7% |
| SOY | 2020-12-12 | [USDA Oilseeds as of Dec 2020 market report](https://feedsoft.ai/events/49747-usda-oilseeds-as-of-dec-2020-market-report.md) | +5.1% | +22.5% |
| SOY | 2024-10-16 | [October 2024 WASDE Update](https://feedsoft.ai/events/27805-october-2024-wasde-update.md) | +0.1% | +1.3% |
| SOY | 2024-10-11 | [Canada Know-Risk Market Outlook \| WASDE Neutral for Grain and Oilseeds](https://feedsoft.ai/events/27807-canada-know-risk-market-outlook-wasde-neutral-for-grain-and-oilseeds.md) | -2.6% | +0.1% |
| SBM | 2024-12-11 | [Forecast for U.S. Oilseed Production in 2024–2025 – Market-Tracker](https://feedsoft.ai/events/27058-forecast-for-u-s-oilseed-production-in-2024-2025-market-tracker.md) | -0.6% | +1.2% |
| SBM | 2017-04-01 | [Markets for oilseed meals in Australia](https://feedsoft.ai/events/72097-markets-for-oilseed-meals-in-australia.md) | -0.3% | +1.9% |
| SBM | 2024-12-27 | [W51 2024: Soybean Weekly Update](https://feedsoft.ai/events/11400-w51-2024-soybean-weekly-update.md) | -1.5% | +0.2% |

## Sources

- rapool.com: https://www.rapool.com/news/oilseed-rape-market/market-update-for-rapeseed-und-canola-27th-of-nov.-2024/

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