# Canada cuts canola, wheat estimates further due to drought

> Statistics Canada cut its satellite-based canola production estimate to 12.8 million tonnes, about 2 million tonnes below its August 30 figure and down 34% from last year. The crop is the smallest in 13 years and smaller than industry expected.

- Date: 2021-09-14 · published 2021-09-14T12:00:00.000Z
- Category: report · region Canada · magnitude high
- Page: https://feedsoft.ai/events/45044-canada-cuts-canola-wheat-estimates-further-due-to-drought
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A much smaller Canadian canola crop tightens global rapeseed and canola supply, supporting canola meal and oil prices and raising costs for feed buyers.

## Read by commodity

- SBO: bullish ▲
- WHEAT: bullish ▲
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2022-04-27 | [Canada's light canola acres deal another blow for snug vegoil market](https://feedsoft.ai/events/41789-canada-s-light-canola-acres-deal-another-blow-for-snug-vegoil-market.md) | -2.8% | -5.6% |
| SBO | 2022-04-08 | [USDA Raises Soybean Exports Estimate, but Gro Predicts Demand Will Increase Further](https://feedsoft.ai/events/41878-usda-raises-soybean-exports-estimate-but-gro-predicts-demand-will-increase.md) | -0.1% | +1.9% |
| SBO | 2019-10-10 | [A look at the USDA's Global Rapeseed Estimates](https://feedsoft.ai/events/56539-a-look-at-the-usda-s-global-rapeseed-estimates.md) | +2.6% | +7.2% |
| SBO | 2023-01-13 | [US soybean crop and oil prices rise after cuts in the 2022/23 MY crop estimate](https://feedsoft.ai/events/37865-us-soybean-crop-and-oil-prices-rise-after-cuts-in-the-2022-23-my-crop-estimate.md) | -1.6% | -9.4% |
| SBO | 2023-08-02 | [Argentine soyabean outlook driven down due to drought](https://feedsoft.ai/events/13956-argentine-soyabean-outlook-driven-down-due-to-drought.md) | -0.3% | -2.0% |
| WHEAT | 2023-09-13 | [France cuts wheat crop estimate, raises maize](https://feedsoft.ai/events/34028-france-cuts-wheat-crop-estimate-raises-maize.md) | +0.6% | -1.7% |
| WHEAT | 2024-11-04 | [EU cuts 2024/25 maize, soft wheat crop estimates](https://feedsoft.ai/events/27355-eu-cuts-2024-25-maize-soft-wheat-crop-estimates.md) | +0.1% | -1.8% |
| WHEAT | 2020-02-18 | [ABARES announces further cuts to wheat crop \| Farm Online \| ACT](https://feedsoft.ai/events/54571-abares-announces-further-cuts-to-wheat-crop-farm-online-act.md) | -0.9% | -0.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40120453
- reuters.com: https://www.reuters.com/article/canada-crops-idAFL1N2QG172/
- tridge.com: https://www.tridge.com/news/fear-of-more-expensive-rapeseed-oil-and-wheat-flou

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