# Crush margins favor canola in Japan | World Grain

> A USDA Foreign Agricultural Service report expects Japan to import about 3 million tonnes of soybeans in 2024-25 while shifting crush toward canola, which benefits from a better crush margin. Japan's soybean crush is projected at 2.28 million tonnes, and rapeseed imports are rising to 2.1 million tonnes.

- Date: 2024-04-09 · published 2024-04-09T12:00:00.000Z
- Category: report · region Japan · magnitude low
- Page: https://feedsoft.ai/events/30833-crush-margins-favor-canola-in-japan-world-grain
- 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

Stronger canola crush in Japan shifts oilseed demand away from soybeans and increases soybean meal imports, which slightly supports soybean meal demand while trimming soybean imports. The overall price effect is modest.

## Read by commodity

- SBM: neutral
- SOY: bearish ▼
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-08-22 | [Record US soybean crop forecast in 2024 \| World Grain](https://feedsoft.ai/events/28788-record-us-soybean-crop-forecast-in-2024-world-grain.md) | -0.5% | +5.2% |
| SOY | 2024-10-21 | [Grain market review: Oilseeds \| World Grain](https://feedsoft.ai/events/11145-grain-market-review-oilseeds-world-grain.md) | +1.8% | +2.9% |
| SOY | 2024-01-15 | [Bumper soybean crop expected in Argentina \| World Grain](https://feedsoft.ai/events/13942-bumper-soybean-crop-expected-in-argentina-world-grain.md) | +1.5% | -1.1% |
| SOY | 2025-03-17 | [Argentina’s soybean crop stabilizes \| World Grain](https://feedsoft.ai/events/13876-argentina-s-soybean-crop-stabilizes-world-grain.md) | +1.1% | +4.4% |
| SOY | 2023-05-22 | [IGC sees record total grains output in 2023-24 \| World Grain](https://feedsoft.ai/events/35982-igc-sees-record-total-grains-output-in-2023-24-world-grain.md) | +2.3% | +13.0% |
| SBM | 2026-03-02 | [Recent rainfall aids Argentina’s soybean crop \| World Grain](https://feedsoft.ai/events/13802-recent-rainfall-aids-argentina-s-soybean-crop-world-grain.md) | -0.1% | +1.0% |
| SBM | 2026-03-20 | [COCEREAL gives EU grain crop a boost   \| World Grain](https://feedsoft.ai/events/20111-cocereal-gives-eu-grain-crop-a-boost-world-grain.md) | -1.6% | +0.3% |
| SBM | 2023-03-29 | [Canadian oilseeds output to decline slightly \| World Grain](https://feedsoft.ai/events/36826-canadian-oilseeds-output-to-decline-slightly-world-grain.md) | +0.2% | -5.1% |

## Sources

- world-grain.com: https://www.world-grain.com/articles/19843-crush-margins-favor-canola-in-japan

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