# Canola Market Outlook: May 8, 2023

> The weekly SaskCanola outlook notes soybean meal at a five-month low, soybeans falling, and fund selling in soybeans. It highlights cheaper South American offers over US soybeans and China's canola purchases, with the upcoming WASDE report a key focus.

- Date: 2023-05-08 · published 2023-05-08T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/35923-canola-market-outlook-may-8-2023
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Cheaper South American supplies and weak meal prices point to soft soymeal and soybean values, while Canadian canola sales are being held back as old-crop stocks are sold out.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CANMEAL: neutral

## Sources

- saskcanola.com: https://www.saskcanola.com/market-outlook-articles/canola-market-outlook-may-8-2023

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