# Canola Market Outlook: August 21, 2023

> Weekly canola outlook reports November soybeans rose 45-6 cents to 1353-2 and November ICE canola closed at 800.50/mt, up 5.07% on the week, reaching 809.40/mt on Monday. Year-to-date canola disappearance is up 61% from last year, and analysts note yield worries from heat and dryness.

- Date: 2023-08-21 · published 2023-08-21T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/34689-canola-market-outlook-august-21-2023
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Yield concerns in Canada and the US, plus a strong soybean complex, are supporting canola and soy prices, so buyers should be cautious about adding forward sales while crop estimates remain uncertain.

## Read by commodity

- SOY: bullish ▲
- CANMEAL: bullish ▲

## Sources

- saskcanola.com: https://www.saskcanola.com/market-outlook-articles/canola-market-outlook-august-21-2023

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