# Market Update for Rapeseed & Canola 27th of May 2024

> European new-crop rapeseed closed above EUR 500/t on MATIF, reaching the highest level since July 2023. Australian canola supplies are forecast to fall about 1.0 Mt to a four-year low due to dryness that reduced Western Australian sowings.

- Date: 2024-05-27 · published 2024-05-27T12:00:00.000Z
- Category: weather · region EU · magnitude medium
- Page: https://feedsoft.ai/events/30359-market-update-for-rapeseed-and-canola-27th-of-may-2024
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Cottonseed Meal](https://feedsoft.ai/c/CSM.md)

## Why it matters

A smaller Australian and Ukrainian exportable surplus forces the EU to import more Canadian canola, supporting canola prices and the European premium.

## Read by commodity

- CSM: neutral
- CANMEAL: bullish ▲

## Sources

- rapool.com: https://www.rapool.com/news/oilseed-rape-market/market-update-for-rapeseed-und-canola-27th-of-may-2024/

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