# Canola Market Outlook: January 15, 2024

> CBOT soybeans and meal fell last week, with the bearish USDA report on January 12 extending losses. Soybeans dropped 32 cents per bushel and meal fell $7 per ton over the week. US ending soybean stocks were raised from 245 to 280 million bushels on a higher yield of 50.6 bushels per acre.

- Date: 2024-01-16 · published 2024-01-16T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/32221-canola-market-outlook-january-15-2024
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Higher US stocks and steady South American output remove near-term bullish catalysts for soybean meal, keeping feed protein costs soft. Prices are likely to stay pressured until the next USDA update.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-06-13 | [Food Outlook - Biannual Report on Global Food Markets, June 2024 - World \| ReliefWeb](https://feedsoft.ai/events/17024-food-outlook-biannual-report-on-global-food-markets-june-2024-world-reliefweb.md) | -1.9% | -3.6% |
| SOY | 2025-09-17 | [ICE Canada Weekly Outlook : More Declines on Horizon for Canola \| MarketScreener](https://feedsoft.ai/events/22997-ice-canada-weekly-outlook-more-declines-on-horizon-for-canola-marketscreener.md) | -3.6% | -4.1% |
| SOY | 2024-01-29 | [Canada Know-Risk Market Outlook \| HRW Wheat Ratings Improve](https://feedsoft.ai/events/32173-canada-know-risk-market-outlook-hrw-wheat-ratings-improve.md) | -1.7% | -6.1% |
| SOY | 2024-01-12 | [JANUARY 2024 WASDE REPORT SUMMARY & NOTES: - CIH](https://feedsoft.ai/events/32064-january-2024-wasde-report-summary-and-notes-cih.md) | -1.5% | -3.9% |
| SOY | 2024-10-23 | [Market Report OCTOBER 2024 – Lipsa](https://feedsoft.ai/events/27983-market-report-october-2024-lipsa.md) | -2.7% | +0.7% |
| SBM | 2025-01-20 | [Market Update for Rapeseed & Canola 20th of January 2025](https://feedsoft.ai/events/26602-market-update-for-rapeseed-and-canola-20th-of-january-2025.md) | +1.9% | -0.8% |
| SBM | 2026-01-30 | [Poultry Market Outlook - Jan - Ceva Poultry](https://feedsoft.ai/events/21206-poultry-market-outlook-jan-ceva-poultry.md) | +2.0% | +8.8% |
| SBM | 2024-06-13 | [Food Outlook - Biannual Report on Global Food Markets, June 2024 - World \| ReliefWeb](https://feedsoft.ai/events/17024-food-outlook-biannual-report-on-global-food-markets-june-2024-world-reliefweb.md) | -0.9% | +0.3% |

## Sources

- saskcanola.com: https://www.saskcanola.com/market-outlook-articles/canola-market-outlook-january-15-2024

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