# North American Grain/Oilseed Review: Canola weakens with outside markets 10.06.2022 - UkrAgroConsult

> The ICE canola market weakened on Thursday but recovered from its lows as chart support broke. Losses in European rapeseed and Chicago soyoil spilled over into Canada, while Indonesian palm oil exports rose. Soybean futures hit 10-year highs ahead of the USDA report, and Brazil was considering raising its biodiesel blend from 10 to 15 percent.

- Date: 2022-06-10 · published 2022-06-10T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/7214-north-american-grain-oilseed-review-canola-weakens-with-outside-markets-10-06
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Rising vegetable oil supply from Indonesia and falling European and Chicago oil prices pressure canola and meal values, while a possible Brazilian biodiesel mandate increase would support soyoil demand and soybean crush margins.

## Read by commodity

- SBO: neutral
- SOY: bullish ▲
- CANMEAL: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CANMEAL | 2022-06-13 | 1 | -10.7% | -4.4 | Canola weakness on June 9-10 from losses in European rapeseed and Chicago soyoil, with broken chart support, points to the start of the selloff in the oilseed complex, though it predates the June 13 drop. |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/north-american-grain-oilseed-review-canola-weakens-with-outside-markets/

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