# Rapeseed and canola prices eased after touching multi-month highs

> Rapeseed on MATIF hit its highest since July 2023 on frost damage in northern Europe, then eased about 2% as traders took profits. The US decision not to impose duties on Chinese used cooking oil weighed on soybean oil, and USDA raised its 2024/25 world rapeseed export forecast to 17.6 million tonnes.

- Date: 2024-05-16 · published 2024-05-16T12:00:00.000Z
- Category: weather · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/30227-rapeseed-and-canola-prices-eased-after-touching-multi-month-highs
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

EU frost damage supports rapeseed prices, but a bigger export forecast and weaker soybean oil cap gains in vegetable oils.

## Read by commodity

- SBO: bearish ▼
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2018-06-11 | [Prices for rapeseed and canola are reduced](https://feedsoft.ai/events/64619-prices-for-rapeseed-and-canola-are-reduced.md) | -3.3% | -5.8% |
| SBO | 2017-01-17 | [Canola acres seen rising on high prices - AgCanada](https://feedsoft.ai/events/73084-canola-acres-seen-rising-on-high-prices-agcanada.md) | -0.7% | -3.4% |
| SBO | 2026-10-20 | [Record sunseed crop in Russia drives down seed, oil and meal prices](https://feedsoft.ai/events/17204-record-sunseed-crop-in-russia-drives-down-seed-oil-and-meal-prices.md) | +0.2% | — |
| SBO | 2026-01-29 | [Oilseeds: Canola rallies, soybean meal too: bullish](https://feedsoft.ai/events/21146-oilseeds-canola-rallies-soybean-meal-too-bullish.md) | +0.6% | +8.0% |
| SBO | 2023-06-26 | [Canola markets higher despite EPA biofuels announcement](https://feedsoft.ai/events/35594-canola-markets-higher-despite-epa-biofuels-announcement.md) | +3.7% | +16.2% |

## Sources

- graintrade.com.ua: https://graintrade.com.ua/en/novosti/tcini-na-ripak-ta-kanolu-znizilisya-pislya-onovlennya-bagatomisyachnih-maksimumiv.html

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