# Canola crushing it | World Grain

> Global canola/rapeseed production for 2023-24 is projected at 87.4 million tonnes, slightly below 2022-23. Global crush is forecast at 81.1 million tonnes, and Canada expects crush to rise about 50% by 2024 or 2025 as new plants are built. Demand for renewable diesel, driven by government requirements, is the main force behind the expansion.

- Date: 2023-08-09 · published 2023-08-09T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/34553-canola-crushing-it-world-grain
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Rising crush capacity increases meal output, which is bearish for canola meal, while stronger demand for canola oil from biofuels supports vegetable oil prices.

## Read by commodity

- SBO: bullish ▲
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2017-03-02 | [Canola's rally pushes cash prices higher - Grainews](https://feedsoft.ai/events/72117-canola-s-rally-pushes-cash-prices-higher-grainews.md) | -3.5% | -6.6% |
| SBO | 2026-10-09 | [CoBank: US needs feedstock imports to meet RVO \| World Grain](https://feedsoft.ai/events/14987-cobank-us-needs-feedstock-imports-to-meet-rvo-world-grain.md) | -0.2% | +1.5% |
| SBO | 2024-11-28 | [Biofuels' hunger for used cooking oil faces trade challenges \| World Grain](https://feedsoft.ai/events/27477-biofuels-hunger-for-used-cooking-oil-faces-trade-challenges-world-grain.md) | -0.4% | -0.8% |
| SBO | 2023-05-23 | [Canada's canola crushing facilities will reduce competition against Australia \| Farm Weekly \| WA](https://feedsoft.ai/events/36052-canada-s-canola-crushing-facilities-will-reduce-competition-against-australia.md) | +0.2% | +20.2% |
| SBO | 2025-05-29 | [Crush Expanding, Biofuels Shifting - What Does It Mean?](https://feedsoft.ai/events/15124-crush-expanding-biofuels-shifting-what-does-it-mean.md) | -4.6% | +3.5% |

## Sources

- world-grain.com: https://www.world-grain.com/articles/18882-canola-crushing-it

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