# North American Grain and Oilseed Review: Production uncertainty encourages canola demand - AgCanada

> ICE canola futures closed higher on Thursday, supported by export demand from China and concerns that Canadian production could be as much as one million tonnes below Statistics Canada's 18.98 million tonne estimate. Chicago soybeans were mixed and soymeal lower, while a USDA private sale of 198,000 tonnes of soybeans was announced.

- Date: 2024-10-24 · published 2024-10-24T12:00:00.000Z
- Category: trade · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/27964-north-american-grain-and-oilseed-review-production-uncertainty-encourages
- 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

Expected shortfall in Canadian canola supply and firm Chinese demand support canola and rapeseed prices, while lower soymeal pressures meal values.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-12-19 | [Grain Market Review: Oilseeds](https://feedsoft.ai/events/61641-grain-market-review-oilseeds.md) | -4.2% | +0.0% |
| SOY | 2025-02-20 | [Freight rates climb on South American demand - Fastmarkets](https://feedsoft.ai/events/16965-freight-rates-climb-on-south-american-demand-fastmarkets.md) | -0.7% | -2.3% |
| SOY | 2019-01-08 | [Poultry Producers and Feed Millers Attend USSEC’s First Poultry Nutrition Conference in Algeria - U.S. Soybean Export Council](https://feedsoft.ai/events/61229-poultry-producers-and-feed-millers-attend-ussec-s-first-poultry-nutrition.md) | -2.4% | +0.9% |
| SOY | 2018-08-15 | [South American soy fed to EU livestock drives Gran Chaco deforestation](https://feedsoft.ai/events/63555-south-american-soy-fed-to-eu-livestock-drives-gran-chaco-deforestation.md) | +1.2% | -4.1% |
| SOY | 2019-02-27 | [Grain, oilseed rally fizzles - Brownfield Ag News](https://feedsoft.ai/events/11850-grain-oilseed-rally-fizzles-brownfield-ag-news.md) | -0.3% | -0.3% |
| SBM | 2018-06-26 | [Grain and oilseed prices fall amid trade uncertainty \| 2018-06-26  \| Food Business News](https://feedsoft.ai/events/8581-grain-and-oilseed-prices-fall-amid-trade-uncertainty-2018-06-26-food-business.md) | -1.0% | -1.2% |
| SBM | 2026-05-14 | [U.S. Grain/Oilseed Review: CBOT falls under the weight of soybeans \| The Western Producer](https://feedsoft.ai/events/9305-u-s-grain-oilseed-review-cbot-falls-under-the-weight-of-soybeans-the-western.md) | -2.8% | -12.8% |
| SBM | 2019-01-22 | [Trade War Shifting Feed Demand Amid Ethanol Production Cuts \| Hoosier Ag Today](https://feedsoft.ai/events/61094-trade-war-shifting-feed-demand-amid-ethanol-production-cuts-hoosier-ag-today.md) | -0.9% | -3.1% |

## Sources

- agcanada.com: https://www.agcanada.com/ice/north-american-grain-and-oilseed-review-production-uncertainty-encourages-canola-demand

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