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A drought has sharply reduced Canadian rapeseed supplies, tightening world vegetable oil markets. Limited canola meal exports from Canada have helped drive a near $70 rise in U.S. soybean meal prices over the past month.
Lower canola meal availability shifts protein demand to soybean meal and tightens vegetable oil supply, supporting higher prices for protein meals and oils used in feed.
dtnpf.comJoel KarlinNov 26, 2021Not enough comparable past events yet for a historical read.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), and -0.5% 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.
