The canola market has been caught up in the commodity downdraft precipitated by bearish estimates put out by the USDA in its annual Agricultural Outlook Forum. Analysts have been surprised by the overly bearish reaction to the report, given the low accuracy of these annual pre-season estimates the USDA proposes. Increased deliveries of Brazilian soybeans into the export channels and no apparent ramp up in the Ukraine war are reported to be the other factors that combined to depress commodity markets.
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US canola oil supplies, use at robust levels
When compared to soybean meal, results from 22 studies demonstrated a 2.4-pound advantage in milk yield for canola meal.
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