# Lower dollar boosts canola | The Western Producer

> ICE canola futures finished stronger on January 18 as a weaker Canadian dollar supported prices. CBOT soybean, oil and meal contracts also rose, and Brazil's consultancy cut its soybean crop estimate to 117.2 million tonnes.

- Date: 2019-01-18 · published 2019-01-18T12:00:00.000Z
- Category: weather · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/61188-lower-dollar-boosts-canola-the-western-producer
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

The lower Brazilian crop estimate and firmer soyoil tighten the global soy complex, supporting soymeal and canola meal prices for feed buyers.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-10-13 | [Canola's course may be set in Brazil, Indonesia \| The Western Producer](https://feedsoft.ai/events/39231-canola-s-course-may-be-set-in-brazil-indonesia-the-western-producer.md) | -1.7% | +4.6% |
| SOY | 2017-07-27 | [Crop futures higher Thurs. on dry weather \| The Western Producer](https://feedsoft.ai/events/70067-crop-futures-higher-thurs-on-dry-weather-the-western-producer.md) | -2.3% | -5.4% |
| SOY | 2022-06-30 | [U.S. Midwest forecast spells bad news for corn, soybeans \| The Western Producer](https://feedsoft.ai/events/13357-u-s-midwest-forecast-spells-bad-news-for-corn-soybeans-the-western-producer.md) | -5.0% | -3.9% |
| SOY | 2025-03-28 | [NOAA Projects Intensified Drought in the Western Corn Belt - ProAg](https://feedsoft.ai/events/13108-noaa-projects-intensified-drought-in-the-western-corn-belt-proag.md) | -0.5% | +3.2% |
| SOY | 2022-05-23 | [Weather boosts rally price targets](https://feedsoft.ai/events/13361-weather-boosts-rally-price-targets.md) | +1.6% | -1.4% |
| SBM | 2022-06-30 | [U.S. Midwest forecast spells bad news for corn, soybeans \| The Western Producer](https://feedsoft.ai/events/13357-u-s-midwest-forecast-spells-bad-news-for-corn-soybeans-the-western-producer.md) | -0.8% | +4.4% |
| SBM | 2021-07-29 | [Lower forecasts for canola production in Canada continue to support rapeseed prices](https://feedsoft.ai/events/46180-lower-forecasts-for-canola-production-in-canada-continue-to-support-rapeseed.md) | -0.7% | -1.2% |
| SBM | 2022-05-23 | [Weather boosts rally price targets](https://feedsoft.ai/events/13361-weather-boosts-rally-price-targets.md) | +1.0% | +1.5% |

## Sources

- producer.com: https://www.producer.com/daily/lower-dollar-boosts-canola/

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