# Canola flies into soybean headwinds | The Western Producer

> Analysts say a large US soybean crop and sluggish exports are holding back soybean prices and preventing canola from rallying at the end of August. USDA forecast record US soybean production of 124.9 million tonnes, while Pro Farmer estimates about 129 million tonnes.

- Date: 2024-08-30 · published 2024-08-30T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/28766-canola-flies-into-soybean-headwinds-the-western-producer
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Expectations of a large US supply weigh on soybean and canola prices and limit upside for meal. Buyers can expect continued pressure unless export demand improves.

## Read by commodity

- SOY: bearish ▼
- CANMEAL: bearish ▼

## Sources

- producer.com: https://www.producer.com/news/canola-flies-into-soybean-headwinds/

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