# Lack of fund buy-in supports sideways movement in canola market; Canadian dollar buoys wheat basis - RealAgriculture

> Canola prices moved sideways near C$480 per tonne as large trading funds stayed out of the market. Strong wheat basis was attributed to a weak Canadian dollar, and analysts flagged uncertainty over US-China trade talks and African swine fever.

- Date: 2019-01-21 · published 2019-01-21T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/61187-lack-of-fund-buy-in-supports-sideways-movement-in-canola-market-canadian-dollar
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Lack of speculative buying and possible lasting cuts to Chinese soymeal demand keep canola meal and soymeal prices capped, while currency-driven basis strength matters for feed grain costs.

## Read by commodity

- SBM: neutral
- SOY: neutral
- USDCAD: bullish ▲
- CANMEAL: neutral

## Sources

- realagriculture.com: https://www.realagriculture.com/2019/01/lack-of-fund-buy-in-supports-sideways-movement-in-canola-market-canadian-dollar-buoys-wheat-basis/

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