# Canadian Drought Has Major Impact

> 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.

- Date: 2021-11-26 · published 2021-11-26T12:00:00.000Z
- Category: weather · region Canada · magnitude high
- Page: https://feedsoft.ai/events/44015-canadian-drought-has-major-impact
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

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.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2022-03-23 | [Brazil Drought Impacts Soybean Production - Field Advisor](https://feedsoft.ai/events/13737-brazil-drought-impacts-soybean-production-field-advisor.md) | -2.6% | -2.0% |
| SBM | 2025-01-16 | [EU soybean meal prices rise as Argentina's drought impacts production](https://feedsoft.ai/events/26587-eu-soybean-meal-prices-rise-as-argentina-s-drought-impacts-production.md) | +3.5% | -2.5% |
| SBM | 2018-06-01 | [How drought will impact Argentina's economy, banks, insurers - BNamericas](https://feedsoft.ai/events/64371-how-drought-will-impact-argentina-s-economy-banks-insurers-bnamericas.md) | -4.5% | -11.7% |
| SBM | 2022-05-31 | [Drought devastates Brazilian crop](https://feedsoft.ai/events/13720-drought-devastates-brazilian-crop.md) | -5.5% | +1.5% |
| SBM | 2024-01-26 | [Drought, Disease, Pests Impacted the 2023 Soybean Growing Season - ProAg](https://feedsoft.ai/events/13213-drought-disease-pests-impacted-the-2023-soybean-growing-season-proag.md) | +0.7% | -6.3% |
| SBO | 2021-10-04 | [Canada's drought forces canola importers to turn elsewhere - Grainews](https://feedsoft.ai/events/44559-canada-s-drought-forces-canola-importers-to-turn-elsewhere-grainews.md) | +2.4% | +6.5% |
| SBO | 2021-08-18 | [First insight into Canadian canola crop damage: Grain market daily \| AHDB](https://feedsoft.ai/events/45665-first-insight-into-canadian-canola-crop-damage-grain-market-daily-ahdb.md) | -5.7% | -10.0% |
| SBO | 2018-03-07 | [No Change in La Nina Drought Grip](https://feedsoft.ai/events/65844-no-change-in-la-nina-drought-grip.md) | -0.9% | -1.9% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/fundamentally-speaking/blog-post/2021/11/26/canadian-drought-major-impact

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