# North American Grain and Oilseed Review: Canola closes lower 11.02.2022 - UkrAgroConsult

> ICE canola futures closed lower on Thursday after hitting new contract highs earlier in the session, weighed by declines in Chicago soybeans, soymeal and Malaysian palm oil. CONAB cut its Brazil 2021/22 soybean estimate by 15 million tonnes to 125.5 million tonnes, while USDA projected 134 million tonnes.

- Date: 2022-02-11 · published 2022-02-11T12:00:00.000Z
- Category: report · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/42803-north-american-grain-and-oilseed-review-canola-closes-lower-11-02-2022
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Brazil's smaller soybean crop tightens global oilseed and meal supplies, supporting meal prices even as profit-taking limited gains. Lower Brazilian output keeps protein costs elevated for feed buyers.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CANMEAL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2022-03-09 | [Soybeans close lower. Wednesday, March 9, 2022 10.03.2022 - UkrAgroConsult](https://feedsoft.ai/events/42239-soybeans-close-lower-wednesday-march-9-2022-10-03-2022-ukragroconsult.md) | -0.1% | -4.6% |
| SBM | 2022-04-20 | [US soybean crush hit a record high for March: NOPA 20.04.2022 - UkrAgroConsult](https://feedsoft.ai/events/41923-us-soybean-crush-hit-a-record-high-for-march-nopa-20-04-2022-ukragroconsult.md) | -4.0% | -11.4% |
| SBM | 2022-06-29 | [2022 U.S. Corn Rating Declines 3%, Soybeans Decline 3% 29.06.2022 - UkrAgroConsult](https://feedsoft.ai/events/13354-2022-u-s-corn-rating-declines-3-soybeans-decline-3-29-06-2022-ukragroconsult.md) | -1.1% | +3.0% |
| SBM | 2021-11-09 | [US soybean production cut in surprise move – WASDE 10.11.2021 - UkrAgroConsult](https://feedsoft.ai/events/44007-us-soybean-production-cut-in-surprise-move-wasde-10-11-2021-ukragroconsult.md) | +10.5% | +6.0% |
| SBM | 2017-08-01 | [Demand for oilseeds drives China’s soybean imports \| World-grain.com \| August 01, 2017 14:22 \| World Grain](https://feedsoft.ai/events/69328-demand-for-oilseeds-drives-china-s-soybean-imports-world-grain-com-august-01.md) | -3.3% | -7.3% |
| SOY | 2022-04-20 | [US soybean crush hit a record high for March: NOPA 20.04.2022 - UkrAgroConsult](https://feedsoft.ai/events/41923-us-soybean-crush-hit-a-record-high-for-march-nopa-20-04-2022-ukragroconsult.md) | -0.7% | -2.2% |
| SOY | 2021-03-01 | [North American producers seeing higher meat, grain prices \| Feed Strategy](https://feedsoft.ai/events/12937-north-american-producers-seeing-higher-meat-grain-prices-feed-strategy.md) | +2.1% | -0.3% |
| SOY | 2022-08-22 | [Soybean Export Sales Surge on Chinese Buying 22.08.2022 - UkrAgroConsult](https://feedsoft.ai/events/14909-soybean-export-sales-surge-on-chinese-buying-22-08-2022-ukragroconsult.md) | +7.8% | -1.8% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/north-american-grain-and-oilseed-review-canola-closes-lower/

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