# Canola dips based on soybean losses | The Western Producer

> Canola fell $1.70 per tonne to $508.60 on July 31 as soybeans and soybean meal weakened on forecasts of cooler US Midwest weather. Wheat fell 6 to 9 cents per bushel, with spring wheat the weakest, and USDA data showed worsening US spring wheat conditions.

- Date: 2017-07-31 · published 2017-07-31T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/70062-canola-dips-based-on-soybean-losses-the-western-producer
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Cooler weather easing heat worries pressures soybean complex prices, which lowers soybean meal values for feed buyers, while worsening spring wheat ratings limit the downside for wheat.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- WHEAT: bearish ▼
- CANMEAL: bearish ▼

## Sources

- producer.com: https://www.producer.com/daily/canola-dips-based-on-soybean-losses/

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