# Canola market dips to rally, heat stress hits wheat crops - AgCanada

> ICE canola futures fell to a one-month low during the week ended July 28 before rallying $25 in three days as heat warnings covered Alberta and Saskatchewan. Analysts expect tight carryout and say the market may need to ration 1 to 2 million tonnes in 2017/18. US spring wheat crop tour results also point to heat stress.

- Date: 2017-07-31 · published 2017-07-31T12:00:00.000Z
- Category: weather · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/69929-canola-market-dips-to-rally-heat-stress-hits-wheat-crops-agcanada
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Heat stress on Prairie canola and US spring wheat raises yield risk and supports oilseed and wheat prices, with canola meal following the seed market.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2024-04-22 | [U.S. grains: Wheat futures rally as weather risks rattle markets - AgCanada](https://feedsoft.ai/events/12140-u-s-grains-wheat-futures-rally-as-weather-risks-rattle-markets-agcanada.md) | +11.1% | +13.8% |
| KWHEAT | 2022-01-19 | [U.S. grains: Wheat, corn rally to highest since December - AgCanada](https://feedsoft.ai/events/11816-u-s-grains-wheat-corn-rally-to-highest-since-december-agcanada.md) | +8.0% | +4.3% |
| KWHEAT | 2021-06-29 | [Extreme heat wallops wheat and canola crops, pushing prices to record highs \| CBC News](https://feedsoft.ai/events/46626-extreme-heat-wallops-wheat-and-canola-crops-pushing-prices-to-record-highs-cbc.md) | -6.9% | +3.8% |
| KWHEAT | 2021-08-26 | [Agriculture and Agri-Food Canada (finally) acknowledges heat, drought have slashed its wheat and canola crops - Pro Farmer](https://feedsoft.ai/events/45542-agriculture-and-agri-food-canada-finally-acknowledges-heat-drought-have-slashed.md) | -1.0% | +2.6% |
| KWHEAT | 2024-07-19 | [Canada Know-Risk Market Outlook \| Canola Hitting Resistance](https://feedsoft.ai/events/12836-canada-know-risk-market-outlook-canola-hitting-resistance.md) | -0.2% | -4.6% |
| WHEAT | 2024-04-22 | [U.S. grains: Wheat futures rally as weather risks rattle markets - AgCanada](https://feedsoft.ai/events/12140-u-s-grains-wheat-futures-rally-as-weather-risks-rattle-markets-agcanada.md) | +0.4% | +1.5% |
| WHEAT | 2022-01-19 | [U.S. grains: Wheat, corn rally to highest since December - AgCanada](https://feedsoft.ai/events/11816-u-s-grains-wheat-corn-rally-to-highest-since-december-agcanada.md) | +1.9% | -1.5% |
| WHEAT | 2021-09-14 | [Paris wheat and rapeseed rally on Canada crop forecasts - Markets - Business Recorder](https://feedsoft.ai/events/45015-paris-wheat-and-rapeseed-rally-on-canada-crop-forecasts-markets-business.md) | -3.3% | +4.8% |

## Sources

- farmtario.com: https://farmtario.com/daily/canola-market-dips-to-rally-heat-stress-hits-wheat-crops/
- agcanada.com: https://www.agcanada.com/daily/canola-market-dips-to-rally-heat-stress-hits-wheat-crops

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