# North American Grain and Oilseed Review: A round of gains for canola 27.07.2022 - UkrAgroConsult

> ICE canola futures closed higher on July 26, supported by gains in other vegetable oils and European rapeseed. Chicago soybeans also rose as crop conditions fell and hot, dry weather was forecast; Statistics Canada reported June canola deliveries down 34.5% year on year.

- Date: 2022-07-27 · published 2022-07-27T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/40454-north-american-grain-and-oilseed-review-a-round-of-gains-for-canola-27-07-2022
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Hot, dry US weather and firmer vegetable oils lift soybean and canola prices, though the rally depends on whether the heat persists.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲
- CANMEAL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2022-07-28 | 5 | +12.5% | 3.3 | Chicago soybeans rose on July 26 as crop conditions fell and hot, dry weather was forecast, supporting the complex. |
| SOY | 2022-07-28 | 5 | +14.1% | 4.2 | Chicago soybeans rose on falling crop conditions and hot, dry forecasts, with vegetable oil strength adding support. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-09-19 | [La Nina Weakening for South America 19.09.2022 - UkrAgroConsult](https://feedsoft.ai/events/13703-la-nina-weakening-for-south-america-19-09-2022-ukragroconsult.md) | -1.6% | -4.5% |
| SOY | 2022-02-15 | [South America’s soybean crop in a spot of bother 15.02.2022 - UkrAgroConsult](https://feedsoft.ai/events/14056-south-america-s-soybean-crop-in-a-spot-of-bother-15-02-2022-ukragroconsult.md) | +4.1% | +5.7% |
| SOY | 2022-01-27 | [South American drought likely to fuel US soybean demand in 2022 27.01.2022 - UkrAgroConsult](https://feedsoft.ai/events/43186-south-american-drought-likely-to-fuel-us-soybean-demand-in-2022-27-01-2022.md) | +7.3% | +15.4% |
| SOY | 2022-09-05 | [Farmers in Mato Grosso Anxiously Wait for First Summer Rains 05.09.2022 - UkrAgroConsult](https://feedsoft.ai/events/13704-farmers-in-mato-grosso-anxiously-wait-for-first-summer-rains-05-09-2022.md) | +2.6% | -9.0% |
| SOY | 2022-09-27 | [Agriculture Weather Watch: No Respite For Argentinian Wheat Despite Rain Forecast 27.09.2022 - UkrAgroConsult](https://feedsoft.ai/events/39523-agriculture-weather-watch-no-respite-for-argentinian-wheat-despite-rain.md) | -2.6% | -2.8% |
| SBM | 2021-10-19 | [La Niña Is Back—What That Means for North and South American Crops](https://feedsoft.ai/events/44469-la-nina-is-back-what-that-means-for-north-and-south-american-crops.md) | +2.1% | +13.7% |
| SBM | 2021-12-20 | [Grains mixed to start the holiday shortened week. Monday, December 20, 2021 21.12.2021 - UkrAgroConsult](https://feedsoft.ai/events/8019-grains-mixed-to-start-the-holiday-shortened-week-monday-december-20-2021-21-12.md) | +7.3% | +16.1% |
| SBM | 2021-03-16 | [Weather woes persist for South American row crops - Grain Central](https://feedsoft.ai/events/47964-weather-woes-persist-for-south-american-row-crops-grain-central.md) | -2.4% | -3.2% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/north-american-grain-and-oilseed-review-a-round-of-gains-for-canola/
- ukragroconsult.com: https://ukragroconsult.com/en/news/north-american-grain-and-oilseed-review-canola-following-weather-market/

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