# North American Grain and Oilseed Review: Canola rises independently

> ICE canola futures hit new highs on Thursday, rising independently of weaker Chicago soybeans and Malaysian palm oil. USDA also issued preliminary 2021 planted acreage estimates forecasting 90 million soybean acres versus 83.1 million in 2020.

- Date: 2021-02-19 · published 2021-02-19T12:00:00.000Z
- Category: report · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/48743-north-american-grain-and-oilseed-review-canola-rises-independently
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Canola ending stocks are tightening, so prices are being rationed, while the large projected US soybean acreage is bearish for soybean and meal prices ahead of the official March acreage report.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-10-21 | [Grain market review: Oilseeds \| World Grain](https://feedsoft.ai/events/11145-grain-market-review-oilseeds-world-grain.md) | +1.8% | +2.9% |
| SOY | 2019-11-26 | [North American Harvest Report](https://feedsoft.ai/events/55888-north-american-harvest-report.md) | -2.4% | +4.9% |
| SOY | 2024-02-26 | [Grain and Oilseeds Spiral Lower](https://feedsoft.ai/events/8025-grain-and-oilseeds-spiral-lower.md) | +0.9% | +5.3% |
| SOY | 2019-12-03 | [Grain crop review for November 2019](https://feedsoft.ai/events/55433-grain-crop-review-for-november-2019.md) | +3.1% | +8.3% |
| SOY | 2017-02-01 | [Federal forecast sees more oilseed acres, less in grains - AgCanada](https://feedsoft.ai/events/72457-federal-forecast-sees-more-oilseed-acres-less-in-grains-agcanada.md) | +1.8% | +1.6% |
| SBM | 2019-05-31 | [Grain Market Review: Oilseeds-2019](https://feedsoft.ai/events/59148-grain-market-review-oilseeds-2019.md) | -3.5% | -4.6% |
| SBM | 2020-07-20 | [India oilseed production on the rise \| 2020-07-20  \| World Grain](https://feedsoft.ai/events/52220-india-oilseed-production-on-the-rise-2020-07-20-world-grain.md) | +1.5% | +1.1% |
| SBM | 2021-01-05 | [USDA Reports Record Oilseed Crushing \| Feed & Grain](https://feedsoft.ai/events/49250-usda-reports-record-oilseed-crushing-feed-and-grain.md) | +5.3% | +2.5% |

## Sources

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

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