# Canola, soybean markets await any news - Manitoba Co-operator

> North American oilseed futures traded in narrow ranges in mid-February with little fresh news. ICE canola drifted lower before recovering most losses, and Chicago soyoil was in a downtrend while soymeal stayed firm. Markets are watching South American supply, where Argentina's drought has cut soybean and corn estimates and Brazil's harvest is facing rain delays.

- Date: 2023-02-23 · published 2023-02-23T12:00:00.000Z
- Category: market · region South America · magnitude low
- Page: https://feedsoft.ai/events/37429-canola-soybean-markets-await-any-news-manitoba-co-operator
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Argentina's crop losses are tightening expected soymeal and soyoil exports, which supports meal prices. Brazil's expected record soybean crop should offset much of that shortfall, which limits upside for the complex.

## Read by commodity

- SBM: bullish ▲
- SBO: bearish ▼
- SOY: neutral

## Sources

- manitobacooperator.ca: https://www.manitobacooperator.ca/markets/canola-soybean-markets-await-any-news/

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