# New-Crop Canola Basis Strengthens

> July soybeans, soybean oil and soymeal futures came under pressure in both old-crop and new-crop positions during the week of April 21. In contrast, November canola rose C$6.60 per tonne, and Prairie canola basis strengthened in most regions since January 1.

- Date: 2023-04-21 · published 2023-04-21T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/36539-new-crop-canola-basis-strengthens
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weakness in US soy complex futures reduces the price of soy-based feed inputs. Firmer canola basis supports Canadian oilseed crush demand.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/canada-markets/blog-post/2023/04/21/new-crop-canola-basis-strengthens

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