# Lower forecasts for canola production in Canada continue to support rapeseed prices

> Oil World cut its 2021 Canadian canola production forecast by 1.7 million tons to 16.9 million tons due to dry Prairie weather and heat up to 35-36C. Saskatchewan soil moisture is largely low or very low, and Canadian canola exports fell to a 21-month low in June.

- Date: 2021-07-29 · published 2021-07-29T12:00:00.000Z
- Category: weather · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/46180-lower-forecasts-for-canola-production-in-canada-continue-to-support-rapeseed
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A forecast 2 Mt drop year-on-year from Canada tightens global rapeseed and canola meal supply, supporting European rapeseed prices and substitution demand for soybean meal.

## Read by commodity

- SBM: bullish ▲
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2023-04-19 | [Soybean and soybean oil prices are rising amid another cut in Argentina’s crop forecasts](https://feedsoft.ai/events/36470-soybean-and-soybean-oil-prices-are-rising-amid-another-cut-in-argentina-s-crop.md) | -4.5% | -7.2% |
| SBM | 2019-01-18 | [Lower dollar boosts canola \| The Western Producer](https://feedsoft.ai/events/61188-lower-dollar-boosts-canola-the-western-producer.md) | +0.5% | -1.8% |
| SBM | 2025-08-22 | [What are the prospects for grain production in Argentina?](https://feedsoft.ai/events/13838-what-are-the-prospects-for-grain-production-in-argentina.md) | -2.8% | -4.4% |
| SBM | 2023-02-17 | [Another cut expected for Argentina soy production \| World Grain](https://feedsoft.ai/events/13982-another-cut-expected-for-argentina-soy-production-world-grain.md) | +0.0% | -3.7% |
| SBM | 2018-01-22 | [The price of soybean meal is increasing due to the reduction in exports from Argentina](https://feedsoft.ai/events/12098-the-price-of-soybean-meal-is-increasing-due-to-the-reduction-in-exports-from.md) | +1.2% | +12.6% |

## Sources

- graintrade.com.ua: https://graintrade.com.ua/en/novosti/znizhennya-prognoziv-virobnitctva-kanoli-v-kanadi-prodovzhue-pidtrimuvati-tcini-na-ripak.html

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