# Global soybean glut could pressure canola prices

> The International Grains Council forecasts global soybean carryout of 75.4 million tonnes for 2024-25, up 13% year on year and 31% above the five-year average. Analysts expect canola/rapeseed planting to fall 3.1% in Canada and 3.6% in the EU, and say heavy soybean stocks could pressure canola prices.

- Date: 2024-04-29 · published 2024-04-29T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/30832-global-soybean-glut-could-pressure-canola-prices
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A large global soybean surplus weighs on oilseed and meal prices, and canola prices depend on the size of the 2024-25 crops. Weather risks in the US remain a counterweight.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-05-28 | [Where Could Corn and Soybean Prices Be this Fall? - AgWeb](https://feedsoft.ai/events/41429-where-could-corn-and-soybean-prices-be-this-fall-agweb.md) | -1.9% | -4.0% |
| SOY | 2024-08-14 | [Soybean and corn prices are sharply dropping in global markets, with the cause still unknown.](https://feedsoft.ai/events/12649-soybean-and-corn-prices-are-sharply-dropping-in-global-markets-with-the-cause.md) | -3.2% | -0.9% |
| SOY | 2024-12-31 | [2025 Soybean Outlook: Well-supplied market pressures prices – AgriNews](https://feedsoft.ai/events/27016-2025-soybean-outlook-well-supplied-market-pressures-prices-agrinews.md) | +1.0% | +8.0% |
| SOY | 2021-10-04 | [Post-report pressure on soybean, soy meal futures - McKeany-Flavell](https://feedsoft.ai/events/44616-post-report-pressure-on-soybean-soy-meal-futures-mckeany-flavell.md) | -0.3% | -0.9% |
| SOY | 2023-04-13 | [Global soybean crush remains tight despite lower price – Asian Agribiz](https://feedsoft.ai/events/36485-global-soybean-crush-remains-tight-despite-lower-price-asian-agribiz.md) | +0.1% | -4.5% |
| SBM | 2026-06-19 | [Soybean meal and oil: global demand sustains market, but excess supply pressures prices in the second half of the year](https://feedsoft.ai/events/18880-soybean-meal-and-oil-global-demand-sustains-market-but-excess-supply-pressures.md) | +1.2% | +5.7% |
| SBM | 2024-08-14 | [Soybean and corn prices are sharply dropping in global markets, with the cause still unknown.](https://feedsoft.ai/events/12649-soybean-and-corn-prices-are-sharply-dropping-in-global-markets-with-the-cause.md) | +1.2% | +1.6% |
| SBM | 2024-12-31 | [2025 Soybean Outlook: Well-supplied market pressures prices – AgriNews](https://feedsoft.ai/events/27016-2025-soybean-outlook-well-supplied-market-pressures-prices-agrinews.md) | -1.5% | +0.1% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/global-soybean-glut-could-pressure-canola-prices/

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