# Canola Market Outlook: January 30, 2023

> Weekly outlook reports CBOT soybeans closed 3 cents higher on the week and China reportedly bought US soybeans for 2023/24 delivery. Argentina's crop rating improved slightly after rains, but the official crop estimate was left at 41 million tonnes, versus USDA's 45.5 million tonnes. Canola disappearance was 16 percent above last year.

- Date: 2023-01-30 · published 2023-01-30T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/37752-canola-market-outlook-january-30-2023
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Chinese purchases and Argentina's still-weak crop outlook support soybean prices, while canola demand from crushers and exporters is also firm.

## Read by commodity

- SOY: bullish ▲
- CANMEAL: neutral

## Sources

- saskcanola.com: https://www.saskcanola.com/market-outlook-articles/canola-market-outlook-january-30-2023

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