# Canola Market Outlook: January 22, 2024

> CBOT soybeans slid last week on ample supply and doubts about Chinese demand, with meal also falling and oil range-bound. US soybean sales to China are 20.2 million mt year-to-date versus 27.2 million a year earlier. Canada is on pace to export only 5.8 million mt of canola this crop year.

- Date: 2024-01-24 · published 2024-01-24T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/32220-canola-market-outlook-january-22-2024
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Weak Chinese buying and heavy South American supply keep soybean and meal prices under pressure, which benefits feed buyers on meal costs. Lower Canadian canola exports point to ample canola meal availability.

## Read by commodity

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

## Sources

- saskcanola.com: https://www.saskcanola.com/market-outlook-articles/canola-market-outlook-january-22-2024

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