# European woes could lift canola market - Manitoba Co-operator

> Floods across central Europe are cutting projections for next year's European grain and oilseed crops, after adverse 2024 weather left the region with some of its smallest crops in decades. COCERAL pegged combined EU and UK grain output at 280.3 million tonnes, about 16 million lower than its earlier estimate. European rapeseed is trading at a sizeable premium to Canadian canola, and Canada has already shipped 42,300 tonnes out of Thunder Bay.

- Date: 2024-09-27 · published 2024-09-27T12:00:00.000Z
- Category: weather · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/28437-european-woes-could-lift-canola-market-manitoba-co-operator
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

A smaller European wheat and rapeseed crop tightens supply for importers and draws demand toward Canadian canola and other exporters, supporting prices. The loss of Ukrainian export supply adds to the upward pressure.

## Read by commodity

- WHEAT: bullish ▲
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2026-05-20 | [Dry U.S. Plains boosting wheat markets - Manitoba Co-operator](https://feedsoft.ai/events/19315-dry-u-s-plains-boosting-wheat-markets-manitoba-co-operator.md) | -1.5% | -1.6% |
| WHEAT | 2018-03-01 | [U.S. grains: Wheat, soybean futures rally - Manitoba Co-operator](https://feedsoft.ai/events/12431-u-s-grains-wheat-soybean-futures-rally-manitoba-co-operator.md) | +1.2% | +0.1% |
| WHEAT | 2023-04-11 | [Comment: Weather awaits next trend - Manitoba Co-operator](https://feedsoft.ai/events/36318-comment-weather-awaits-next-trend-manitoba-co-operator.md) | +8.8% | -0.9% |
| WHEAT | 2019-05-15 | [CBOT weekly outlook: Factors come together to boost prices - Manitoba Co-operator](https://feedsoft.ai/events/6667-cbot-weekly-outlook-factors-come-together-to-boost-prices-manitoba-co-operator.md) | +11.2% | +10.0% |
| WHEAT | 2019-09-09 | [U.S. grains: Corn, soy hit lows on weather, before technical bounce - Manitoba Co-operator](https://feedsoft.ai/events/9144-u-s-grains-corn-soy-hit-lows-on-weather-before-technical-bounce-manitoba-co.md) | -0.8% | +4.6% |

## Sources

- manitobacooperator.ca: https://www.manitobacooperator.ca/markets/european-woes-could-lift-canola-market/

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