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USDA's GAIN report forecasts Canada's 2023-24 oilseed output to decline slightly, with canola rising to 18.3 MMT and soybeans falling to 6.3 MMT. Total meal production is expected to drop 3%, while oilseed exports fall 1.5% as more canola goes to domestic crushers.
Lower meal output alongside steady livestock protein demand supports meal prices, while reduced export volumes ease pressure on global canola supply.
world-grain.comArvin DonleyMar 29, 2023Not enough comparable past events yet for a historical read.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
