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ZMP's oilseed assessment notes that Statistics Canada revised the Canadian rapeseed harvest down to 17.6 million tonnes, about 1.1 million less than last year. Germany's rapeseed harvest is about 3% lower than in 2022, and European spot markets weakened on low mill demand.
A smaller Canadian crop tightens global rapeseed supply, which supports rapeseed meal prices. Weak European mill buying offsets some of that support.
zmp.deSep 1, 2023Not enough comparable past events yet for a historical read.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
