# PM Market Report - July 26, 2024 - MarketsFarm

> ICE canola futures fell sharply on July 26, 2024 on farmer selling, improved US Midwest weather, and expectations of large harvests, with spillover from Chicago soy complex losses. Lower crude oil also weighed on oilseeds and vegetable oils.

- Date: 2024-07-26 · published 2024-07-26T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/29306-pm-market-report-july-26-2024-marketsfarm
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weaker canola and soy complex prices lower the cost of canola meal and oilseed-based feed ingredients, while lower crude removes support for vegetable oil values.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼
- WTI: bearish ▼
- CANMEAL: bearish ▼

## Sources

- marketsfarm.com: https://marketsfarm.com/pm-market-report-july-26-2024/

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