# W28: Canola & Rapeseed Update

> Rapeseed futures in Paris and canola futures in Winnipeg rose in mid-July, with Winnipeg November canola reaching about USD 621/mt on oil price speculation. USDA projects lower global rapeseed output for 2023/24 but higher Canadian production of 20.3 mmt.

- Date: 2023-07-21 · published 2023-07-21T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/34991-w28-canola-and-rapeseed-update
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Higher oilseed and vegetable oil prices and tighter global rapeseed supply support canola meal values, while the USDA's Canadian increase limits the rally.

## Read by commodity

- SBO: bullish ▲
- CANMEAL: bullish ▲

## Sources

- tridge.com: https://www.tridge.com/weekly-product-updates/w28-canola-rapeseed-update

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